PGGM Investments lowered its stake in shares of FedEx Corporation (NYSE:FDX) by 15.4% during the second quarter, Holdings Channel reports. The firm owned 143,398 shares of the shipping service provider’s stock after selling 26,119 shares during the period. PGGM Investments’ holdings in FedEx Corporation were worth $31,165,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. raised its stake in shares of FedEx Corporation by 163.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after buying an additional 300 shares during the period. Cribstone Capital Management LLC raised its stake in shares of FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 6 shares during the period. FNY Managed Accounts LLC acquired a new stake in shares of FedEx Corporation during the first quarter valued at about $100,000. Alexandria Capital LLC raised its stake in shares of FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after buying an additional 11 shares during the period. Finally, Pinnacle Bank acquired a new stake in shares of FedEx Corporation during the first quarter valued at about $122,000. Institutional investors own 76.00% of the company’s stock.

Shares of FedEx Corporation (NYSE:FDX) traded up 0.5376% during midday trading on Wednesday, reaching $210.1939. 289,363 shares of the company traded hands. The stock has a 50 day moving average price of $212.43 and a 200 day moving average price of $198.92. The firm has a market capitalization of $56.39 billion, a PE ratio of 18.9877 and a beta of 1.27. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99.

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 consensus estimate of $3.88 by $0.37. The company 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%. FedEx Corporation’s revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.30 EPS. Analysts expect that FedEx Corporation will post $13.58 earnings per share for the current fiscal year.

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Several analysts recently issued reports on the stock. UBS AG restated a “buy” rating and set a $235.00 target price (up from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Cowen and Company restated a “buy” rating and set a $240.00 target price on shares of FedEx Corporation in a research report on Thursday, August 10th. BidaskClub lowered shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Credit Suisse Group restated a “buy” rating and set a $237.00 target price on shares of FedEx Corporation in a research report on Monday, August 7th. Finally, Zacks Investment Research lowered shares of FedEx Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $221.78.

In other FedEx Corporation news, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $211.00, for a total value of $3,706,215.00. Following the completion of the transaction, the chief executive officer now directly owns 29,148 shares of the company’s stock, valued at approximately $6,150,228. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kim Jabal sold 609 shares of FedEx Corporation stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $216.13, for a total value 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 $453,873. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is currently 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.

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

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