FedEx Corporation (FDX) Shares Bought by Blume Capital Management Inc.
Blume Capital Management Inc. raised its position in FedEx Corporation (NYSE:FDX) by 0.8% during the first quarter, Holdings Channel reports. The institutional investor owned 6,423 shares of the shipping service provider’s stock after buying an additional 50 shares during the period. Blume Capital Management Inc.’s holdings in FedEx Corporation were worth $1,253,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in 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 worth $3,512,158,000 after buying an additional 918,896 shares in the last quarter. Pioneer Investment Management Inc. raised its stake in FedEx Corporation by 1,611.5% in the first quarter. Pioneer Investment Management Inc. now owns 870,646 shares of the shipping service provider’s stock worth $169,906,000 after buying an additional 819,777 shares in the last quarter. Nordea Investment Management AB raised its stake in FedEx Corporation by 360.6% in the first quarter. Nordea Investment Management AB now owns 935,838 shares of the shipping service provider’s stock worth $182,629,000 after buying an additional 732,644 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in FedEx Corporation by 28.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,396,492 shares of the shipping service provider’s stock worth $272,525,000 after buying an additional 312,272 shares in the last quarter. Finally, Swiss National Bank raised its stake in FedEx Corporation by 26.8% in the first quarter. Swiss National Bank now owns 894,468 shares of the shipping service provider’s stock worth $174,555,000 after buying an additional 189,100 shares in the last quarter. 76.36% of the stock is currently owned by institutional investors.
FedEx Corporation (FDX) traded down 0.53% during mid-day trading on Wednesday, reaching $205.91. The company had a trading volume of 313,207 shares. FedEx Corporation has a one year low of $158.20 and a one year high of $219.99. The stock has a market capitalization of $55.24 billion, a PE ratio of 18.60 and a beta of 1.27. The company’s 50-day moving average is $213.51 and its 200-day moving average is $197.91.
FedEx Corporation (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business had revenue of $15.70 billion during the quarter, compared to analyst estimates of $15.56 billion. During the same period in the prior year, the company earned $3.30 earnings per share. FedEx Corporation’s revenue was up 21.0% compared to the same quarter last year. Equities research analysts anticipate that FedEx Corporation will post $13.58 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: This story was posted by Daily Political and is owned by of Daily Political. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.dailypolitical.com/2017/08/09/fedex-corporation-fdx-shares-bought-by-blume-capital-management-inc.html.
A number of equities research analysts have recently commented on FDX shares. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Tuesday, May 23rd. Vetr raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price target on the stock in a research report on Wednesday, May 17th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $237.00 price target on shares of FedEx Corporation in a research report on Wednesday, June 21st. Credit Suisse Group raised their price target on FedEx Corporation from $225.00 to $237.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 21st. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $240.00 price target on shares of FedEx Corporation in a research report on Wednesday, June 21st. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. FedEx Corporation currently has an average rating of “Buy” and an average target price of $221.78.
In other FedEx Corporation news, Director Kim Jabal sold 5,918 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $216.05, for a total transaction of $1,278,583.90. Following the completion of the transaction, the director now directly owns 3,610 shares of the company’s stock, valued at $779,940.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $211.00, for a total value of $3,706,215.00. Following the transaction, the chief executive officer now directly owns 29,148 shares of the company’s stock, valued at $6,150,228. 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 owned by corporate insiders.
FedEx Corporation Company Profile
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).
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.