Highview Capital Management LLC DE Boosts Stake in FedEx Co. (NYSE:FDX)

Highview Capital Management LLC DE lifted its holdings in FedEx Co. (NYSE:FDX) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,372 shares of the shipping service provider’s stock after purchasing an additional 396 shares during the period. Highview Capital Management LLC DE’s holdings in FedEx were worth $1,197,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of FDX. Cullinan Associates Inc. acquired a new stake in FedEx in the 1st quarter valued at $217,000. First Trust Direct Indexing L.P. raised its position in shares of FedEx by 3.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 6,933 shares of the shipping service provider’s stock worth $2,009,000 after purchasing an additional 254 shares during the last quarter. New Century Financial Group LLC raised its position in shares of FedEx by 2.3% during the 1st quarter. New Century Financial Group LLC now owns 2,128 shares of the shipping service provider’s stock worth $617,000 after purchasing an additional 47 shares during the last quarter. Mezzasalma Advisors LLC purchased a new position in FedEx in the 1st quarter valued at about $217,000. Finally, Northcape Wealth Management LLC boosted its stake in shares of FedEx by 2.5% in the first quarter. Northcape Wealth Management LLC now owns 2,827 shares of the shipping service provider’s stock worth $819,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FDX. Stephens reaffirmed an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. TD Cowen reduced their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Stifel Nicolaus reduced their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Citigroup began coverage on shares of FedEx in a research report on Wednesday, October 9th. They set a “buy” rating and a $301.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

Shares of NYSE FDX opened at $275.04 on Wednesday. The stock’s 50-day simple moving average is $278.30 and its 200-day simple moving average is $274.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market capitalization of $67.20 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17. FedEx Co. has a fifty-two week low of $229.07 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.55 EPS. As a group, equities research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

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.