Lumbard & Kellner LLC decreased its stake in FedEx Corporation (NYSE:FDX) by 1.8% during the first quarter, Holdings Channel reports. The fund owned 27,680 shares of the shipping service provider’s stock after selling 515 shares during the period. FedEx Corporation comprises 3.2% of Lumbard & Kellner LLC’s portfolio, making the stock its 6th largest position. Lumbard & Kellner LLC’s holdings in FedEx Corporation were worth $5,402,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FDX. Northwestern Mutual Wealth Management Co. boosted 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 during the last quarter. Quantitative Systematic Strategies LLC boosted 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 during the last quarter. Madison Investment Holdings Inc. boosted 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 during the last quarter. ING Groep NV boosted 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 during the last quarter. Finally, Webster Bank N. A. boosted 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 during the last quarter. 76.36% of the stock is owned by institutional investors and hedge funds.

FedEx Corporation (FDX) traded up 0.65% during midday trading on Friday, hitting $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 firm has a market capitalization of $54.96 billion, a P/E ratio of 18.51 and a beta of 1.27. The firm’s 50 day moving average is $212.82 and its 200-day moving average is $198.62.

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

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FDX has been the subject of several research reports. Stifel Nicolaus lifted their price target on FedEx Corporation from $194.00 to $216.00 and gave the stock a “hold” rating in a report on Monday, June 12th. Vetr lowered FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 price objective on the stock. in a research note on Monday, June 26th. BidaskClub lowered FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. raised their price objective on FedEx Corporation from $218.00 to $229.00 and gave the stock an “outperform” rating in a research note on Thursday, June 15th. Finally, Zacks Investment Research lowered FedEx Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $221.78.

In other news, EVP Robert B. Carter sold 24,522 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 68,556 shares of the company’s stock, valued at $14,462,573.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 77,757 shares of company stock worth $16,447,426 over the last ninety days. Insiders own 8.67% of the company’s stock.

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.

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

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