Highland Capital Management LLC Has $15.44 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Highland Capital Management LLC increased its position in shares of FedEx Co. (NYSE:FDX) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,504 shares of the shipping service provider’s stock after purchasing an additional 754 shares during the quarter. FedEx makes up approximately 0.9% of Highland Capital Management LLC’s holdings, making the stock its 22nd biggest holding. Highland Capital Management LLC’s holdings in FedEx were worth $15,443,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC raised its holdings in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after buying an additional 34 shares during the last quarter. LRI Investments LLC raised its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares during the last quarter. Richard P Slaughter Associates Inc lifted its position in shares of FedEx by 0.4% during the second quarter. Richard P Slaughter Associates Inc now owns 8,573 shares of the shipping service provider’s stock worth $2,570,000 after purchasing an additional 38 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in shares of FedEx by 4.1% during the first quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock valued at $285,000 after purchasing an additional 39 shares during the last quarter. Finally, Coastline Trust Co increased its holdings in shares of FedEx by 1.0% in the second quarter. Coastline Trust Co now owns 4,229 shares of the shipping service provider’s stock valued at $1,268,000 after purchasing an additional 40 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. Insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of recent research reports. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. TD Cowen initiated coverage on FedEx in a report on Thursday. They issued a “buy” rating and a $334.00 price target on the stock. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday. Stifel Nicolaus restated a “buy” rating and set a $327.00 target price (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Finally, Robert W. Baird boosted their price target on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $313.96.

FedEx Stock Up 1.0 %

FDX traded up $2.90 during trading on Friday, hitting $297.18. The company had a trading volume of 865,593 shares, compared to its average volume of 1,834,916. The firm’s 50-day moving average price is $288.65 and its 200 day moving average price is $268.49. The company has a market capitalization of $73.13 billion, a PE ratio of 17.25, a PEG ratio of 1.08 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a one year low of $224.69 and a one year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period last year, the company earned $4.94 earnings per share. FedEx’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts expect that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.