Private Bank & Trust Co. increased its position in shares of FedEx Corporation (NYSE:FDX) by 46.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,916 shares of the shipping service provider’s stock after buying an additional 1,235 shares during the period. Private Bank & Trust Co.’s holdings in FedEx Corporation were worth $850,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased 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 worth $3,512,158,000 after buying an additional 918,896 shares during the last quarter. BlackRock Inc. increased its stake in shares of FedEx Corporation by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after buying an additional 14,086,601 shares during the last quarter. Jennison Associates LLC increased its stake in shares of FedEx Corporation by 5.4% in the first quarter. Jennison Associates LLC now owns 3,429,971 shares of the shipping service provider’s stock worth $669,359,000 after buying an additional 175,777 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of FedEx Corporation by 8.4% in the first quarter. Geode Capital Management LLC now owns 2,236,044 shares of the shipping service provider’s stock worth $435,698,000 after buying an additional 173,544 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of 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 during the last quarter. 76.36% of the stock is currently owned by institutional investors.

Shares of FedEx Corporation (NYSE:FDX) traded up 0.65% on Friday, reaching $204.87. The company had a trading volume of 1,136,569 shares. FedEx Corporation has a 52 week low of $158.20 and a 52 week high of $219.99. The company’s 50-day moving average price is $212.82 and its 200 day moving average price is $198.62. The firm has a market capitalization of $54.96 billion, a P/E ratio of 18.51 and a beta of 1.27.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.30 EPS. On average, analysts expect that FedEx Corporation will post $13.58 EPS for the current year.

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FDX has been the topic of a number of recent research reports. Bank of America Corporation reaffirmed a “buy” rating and set a $240.00 price objective (up previously from $230.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Cowen and Company reaffirmed an “outperform” rating and set a $240.00 price objective on shares of FedEx Corporation in a research report on Wednesday, June 21st. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 price objective on the stock in a research report on Friday, June 2nd. Loop Capital reaffirmed a “buy” rating and set a $234.00 price objective on shares of FedEx Corporation in a research report on Tuesday, July 4th. Finally, UBS AG reaffirmed a “buy” rating and set a $235.00 price objective (up previously from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $221.78.

In other FedEx Corporation news, EVP Robert B. Carter sold 24,522 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $210.96, for a total transaction of $5,173,161.12. Following the completion of the sale, the executive vice president now directly owns 68,556 shares of the company’s stock, valued at approximately $14,462,573.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $208.14, for a total value of $459,573.12. Following the sale, 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 ninety days, insiders have sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is owned by company 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.

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

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