HighPoint Advisor Group LLC Has $2.22 Million Holdings in FedEx Co. (NYSE:FDX)

HighPoint Advisor Group LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,355 shares of the shipping service provider’s stock after buying an additional 273 shares during the quarter. HighPoint Advisor Group LLC’s holdings in FedEx were worth $2,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC increased its holdings in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter valued at $28,000. City Holding Co. bought a new position in shares of FedEx in the fourth quarter valued at about $28,000. Kentucky Trust Co acquired a new position in FedEx during the 4th quarter worth about $28,000. Finally, Activest Wealth Management bought a new stake in FedEx during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FedEx stock opened at $244.07 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a one year low of $217.22 and a one year high of $313.84. The business’s 50 day simple moving average is $255.97 and its two-hundred day simple moving average is $270.59. The stock has a market capitalization of $58.48 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.86 earnings per share. Analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.26%. FedEx’s dividend payout ratio is presently 34.63%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FDX. Raymond James dropped their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Barclays reduced their price target on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Stifel Nicolaus decreased their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,711 shares of company stock valued at $3,312,693 in the last 90 days. Insiders own 8.87% of the company’s stock.

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.