Cambridge Investment Research Advisors Inc. decreased its position in FedEx Corporation (NYSE:FDX) by 44.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 11,766 shares of the shipping service provider’s stock after selling 9,462 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in FedEx Corporation were worth $2,296,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FDX. Mcdaniel Terry & Co. boosted its stake in FedEx Corporation by 0.5% in the first quarter. Mcdaniel Terry & Co. now owns 113,836 shares of the shipping service provider’s stock worth $22,215,000 after buying an additional 584 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of FedEx Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock valued at $3,512,158,000 after buying an additional 918,896 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of FedEx Corporation by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock valued at $184,000 after buying an additional 9 shares in the last quarter. Fairview Capital Investment Management LLC acquired a new stake in shares of FedEx Corporation during the first quarter valued at $208,000. Finally, New England Private Wealth Advisors LLC acquired a new stake in shares of FedEx Corporation during the first quarter valued at $217,000. 76.36% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Corporation (NYSE FDX) traded down 0.1831% during midday trading on Tuesday, hitting $207.9884. 87,613 shares of the company were exchanged. The stock has a 50 day moving average of $213.53 and a 200 day moving average of $197.66. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99. The firm has a market capitalization of $55.79 billion, a PE ratio of 18.7885 and a beta of 1.27.

FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The company had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. During the same period last year, the company posted $3.30 EPS. FedEx Corporation’s revenue was up 21.0% on a year-over-year basis. On average, equities analysts predict that FedEx Corporation will post $13.58 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Cambridge Investment Research Advisors Inc. Reduces Stake in FedEx Corporation (FDX)” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.dailypolitical.com/2017/08/08/cambridge-investment-research-advisors-inc-reduces-stake-in-fedex-corporation-fdx.html.

FDX has been the topic of several analyst reports. Vetr cut shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating and set a $203.90 price objective on the stock. in a research note on Wednesday, April 19th. Zacks Investment Research raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research note on Tuesday, May 23rd. ValuEngine raised shares of FedEx Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. UBS AG reissued a “buy” rating and issued a $235.00 price objective (up previously from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Finally, Deutsche Bank AG set a $235.00 price objective on shares of FedEx Corporation and gave the stock a “buy” rating in a research note on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. FedEx Corporation has a consensus rating of “Buy” and a consensus price target of $221.78.

In related news, VP John L. Merino sold 7,200 shares of FedEx Corporation stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total transaction of $1,521,072.00. Following the completion of the transaction, the vice president now directly owns 33,908 shares of the company’s stock, valued at approximately $7,163,404.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $208.14, for a total transaction of $459,573.12. Following the transaction, the director now directly owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is currently owned by corporate insiders.

About FedEx Corporation

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX).

Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

Receive News & Ratings for FedEx Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corporation and related companies with MarketBeat.com's FREE daily email newsletter.