Bridges Investment Management Inc. raised its stake in FedEx Corporation (NYSE:FDX) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,846 shares of the shipping service provider’s stock after buying an additional 462 shares during the period. FedEx Corporation accounts for about 1.0% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 26th largest position. Bridges Investment Management Inc.’s holdings in FedEx Corporation were worth $7,790,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in FedEx Corporation by 2.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock valued at $13,641,000 after buying an additional 1,852 shares in the last quarter. Quantitative Systematic Strategies LLC increased its stake in FedEx Corporation by 354.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 13,026 shares of the shipping service provider’s stock valued at $2,542,000 after buying an additional 10,159 shares in the last quarter. Madison Investment Holdings Inc. increased its stake in FedEx Corporation by 63.6% in the first quarter. Madison Investment Holdings Inc. now owns 181,250 shares of the shipping service provider’s stock valued at $35,371,000 after buying an additional 70,436 shares in the last quarter. ING Groep NV increased its stake in FedEx Corporation by 245.5% in the first quarter. ING Groep NV now owns 17,525 shares of the shipping service provider’s stock valued at $3,420,000 after buying an additional 12,453 shares in the last quarter. Finally, Webster Bank N. A. increased its stake in FedEx Corporation by 20.3% in the first quarter. Webster Bank N. A. now owns 2,154 shares of the shipping service provider’s stock valued at $420,000 after buying an additional 364 shares in the last quarter. 76.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of FedEx Corporation (NYSE FDX) traded up 0.65% during midday trading on Friday, hitting $204.87. The stock 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 stock’s 50-day moving average price is $212.82 and its 200 day moving average price is $198.62. The company has a market cap of $54.96 billion, a price-to-earnings ratio of 18.51 and a beta of 1.27.

FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. During the same period in the prior year, the firm earned $3.30 EPS. The company’s revenue was up 21.0% compared to the same quarter last year. On average, equities analysts forecast that FedEx Corporation will post $13.58 earnings per share for the current year.

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Several analysts have issued reports 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 note 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 note on Wednesday, May 17th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $237.00 price target on shares of FedEx Corporation in a research note on Wednesday, June 21st. Credit Suisse Group lifted their price target on FedEx Corporation from $225.00 to $237.00 and gave the company an “outperform” rating in a research note on Wednesday, June 21st. Finally, Cowen and Company reissued an “outperform” rating and issued a $240.00 price target on shares of FedEx Corporation in a research note on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. FedEx Corporation currently has a consensus rating of “Buy” and a consensus target price of $221.78.

In other news, Director Kim Jabal sold 609 shares of the stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $216.13, for a total transaction of $131,623.17. Following the completion of the transaction, the director now directly owns 2,100 shares of the company’s stock, valued at approximately $453,873. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 24,522 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total transaction of $5,173,161.12. Following the transaction, the executive vice president now directly owns 68,556 shares of the company’s stock, valued at $14,462,573.76. The disclosure for this sale can be found here. Insiders have sold a total of 77,757 shares of company stock valued at $16,447,426 over the last three months. 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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