Southpoint Capital Advisors LP boosted its stake in shares of FedEx Corporation (NYSE:FDX) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 750,818 shares of the shipping service provider’s stock after buying an additional 818 shares during the period. FedEx Corporation accounts for approximately 6.2% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 3rd largest position. Southpoint Capital Advisors LP’s holdings in FedEx Corporation were worth $146,522,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of FDX. Macquarie Group Ltd. increased its stake in shares of FedEx Corporation by 3.2% in the fourth quarter. Macquarie Group Ltd. now owns 35,090 shares of the shipping service provider’s stock valued at $6,534,000 after buying an additional 1,090 shares in the last quarter. Bank of Montreal Can increased its stake in shares of FedEx Corporation by 16.0% in the first quarter. Bank of Montreal Can now owns 1,006,806 shares of the shipping service provider’s stock valued at $196,478,000 after buying an additional 138,799 shares in the last quarter. Gradient Investments LLC increased its stake in shares of FedEx Corporation by 827.6% in the first quarter. Gradient Investments LLC now owns 1,141 shares of the shipping service provider’s stock valued at $223,000 after buying an additional 1,018 shares in the last quarter. Spirit of America Management Corp NY increased its stake in shares of FedEx Corporation by 22.0% in the first quarter. Spirit of America Management Corp NY now owns 3,050 shares of the shipping service provider’s stock valued at $595,000 after buying an additional 550 shares in the last quarter. Finally, Adirondack Trust Co. increased its stake in shares of FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares in the last quarter. Institutional investors own 76.36% of the company’s stock.

Shares of FedEx Corporation (NYSE:FDX) traded up 0.65% during midday trading on Friday, reaching $204.87. 1,136,569 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $212.82 and a 200-day moving average of $198.62. The stock has a market cap of $54.96 billion, a price-to-earnings ratio of 18.51 and a beta of 1.27. FedEx Corporation has a one year low of $158.20 and a one year high of $219.99.

FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The business had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.56 billion. During the same period last year, the firm earned $3.30 earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. On average, equities research analysts anticipate that FedEx Corporation will post $13.58 earnings per share for the current year.

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A number of research firms have issued reports on FDX. Vetr downgraded FedEx Corporation from a “strong-buy” rating to a “buy” rating and set a $203.90 price target for the company. in a research note on Wednesday, April 19th. Zacks Investment Research upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research note on Tuesday, May 23rd. ValuEngine upgraded FedEx Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Seaport Global Securities began coverage on FedEx Corporation in a research note on Tuesday, June 6th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus lifted their price target on FedEx Corporation from $194.00 to $216.00 and gave the company a “hold” rating in a research note on Monday, June 12th. Six research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $221.78.

In other FedEx Corporation news, CEO David L. Cunningham, Jr. sold 17,565 shares of the stock in a transaction that occurred 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 in the company, valued at $6,150,228. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the transaction, the director now owns 30,608 shares in the company, valued at $6,370,749.12. The disclosure for this sale can be found here. Insiders sold 77,757 shares of company stock worth $16,447,426 over the last quarter. Insiders own 8.67% of the company’s stock.

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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