HighTower Advisors LLC Has $84.70 Million Stock Position in FedEx Co. (NYSE:FDX)

HighTower Advisors LLC lowered its position in FedEx Co. (NYSE:FDX - Free Report) by 19.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 309,560 shares of the shipping service provider's stock after selling 73,463 shares during the quarter. HighTower Advisors LLC owned 0.13% of FedEx worth $84,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC lifted its stake in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new position in FedEx in the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC bought a new position in FedEx in the 2nd quarter worth approximately $39,000. Abound Wealth Management boosted its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC boosted its stake in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Performance

Shares of NYSE:FDX traded up $0.47 on Wednesday, reaching $283.32. 1,839,257 shares of the company's stock were exchanged, compared to its average volume of 1,796,578. The company has a fifty day moving average of $279.29 and a 200-day moving average of $279.60. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a market capitalization of $69.22 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.24 and a beta of 1.18. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business's revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.55 EPS. On average, research analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Monday, December 9th. FedEx's dividend payout ratio (DPR) is presently 34.05%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FDX. Susquehanna decreased their price target on FedEx from $345.00 to $330.00 and set a "positive" rating for the company in a research note on Friday, September 20th. Hsbc Global Res lowered FedEx from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 20th. Stephens reissued an "overweight" rating and set a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. BMO Capital Markets reduced their price objective on FedEx from $325.00 to $300.00 and set a "market perform" rating for the company in a research note on Friday, September 20th. Finally, UBS Group reduced their price objective on FedEx from $333.00 to $311.00 and set a "buy" rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, FedEx has a consensus rating of "Moderate Buy" and an average target price of $316.68.

FedEx 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.