Selway Asset Management lowered its position in FedEx Corporation (NYSE:FDX) by 3.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 39,400 shares of the shipping service provider’s stock after selling 1,600 shares during the period. FedEx Corporation accounts for approximately 4.9% of Selway Asset Management’s portfolio, making the stock its biggest holding. Selway Asset Management’s holdings in FedEx Corporation were worth $8,563,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FDX. FNY Managed Accounts LLC purchased a new position in FedEx Corporation in the 1st quarter valued at $100,000. Riggs Asset Managment Co. Inc. lifted its holdings in FedEx Corporation by 163.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after purchasing an additional 300 shares in the last quarter. Cribstone Capital Management LLC lifted its holdings in FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after purchasing an additional 6 shares in the last quarter. Alexandria Capital LLC lifted its holdings in FedEx Corporation by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after purchasing an additional 13 shares in the last quarter. Finally, Brick & Kyle Associates lifted its holdings in FedEx Corporation by 1.5% in the 1st quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 75.86% of the company’s stock.

A number of brokerages have weighed in on FDX. Cowen and Company restated a “buy” rating and issued a $240.00 price objective on shares of FedEx Corporation in a report on Tuesday, July 11th. Loop Capital reaffirmed a “buy” rating and issued a $234.00 target price on shares of FedEx Corporation in a research note on Tuesday, July 4th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $220.00 target price on shares of FedEx Corporation in a research note on Monday, July 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $235.00 target price on shares of FedEx Corporation in a research note on Tuesday. Finally, Vetr downgraded FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 target price for the company. in a research note on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $222.26.

Shares of FedEx Corporation (FDX) opened at 215.00 on Thursday. The company’s 50-day moving average price is $209.49 and its 200 day moving average price is $201.62. The stock has a market cap of $57.68 billion, a PE ratio of 19.42 and a beta of 1.28. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99.

FedEx Corporation (NYSE:FDX) last posted its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business had revenue of $15.70 billion during the quarter, compared to analyst estimates of $15.56 billion. During the same quarter 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. Equities analysts forecast that FedEx Corporation will post $13.51 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.93%. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.08%.

In other news, EVP Robert B. Carter sold 24,522 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $210.96, for a total value of $5,173,161.12. Following the completion of the sale, the executive vice president now owns 68,556 shares in the company, valued at $14,462,573.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John A. Edwardson sold 2,208 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the sale, the director now owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,757 shares of company stock valued at $16,447,426. Insiders own 8.45% of the company’s stock.

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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.

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

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