Bowen Hanes & Co. Inc. held its stake in FedEx Corporation (NYSE:FDX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,356 shares of the shipping service provider’s stock at the end of the second quarter. FedEx Corporation accounts for 1.5% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 21st biggest position. Bowen Hanes & Co. Inc. owned about 0.05% of FedEx Corporation worth $31,590,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Perennial Advisors LLC lifted its stake in shares of FedEx Corporation by 5.4% in the 2nd quarter. Perennial Advisors LLC now owns 14,405 shares of the shipping service provider’s stock valued at $3,131,000 after purchasing an additional 741 shares during the period. Retirement Systems of Alabama lifted its stake in shares of FedEx Corporation by 0.5% in the 2nd quarter. Retirement Systems of Alabama now owns 243,949 shares of the shipping service provider’s stock valued at $53,017,000 after purchasing an additional 1,186 shares during the period. IFP Advisors Inc lifted its stake in shares of FedEx Corporation by 8.5% in the 2nd quarter. IFP Advisors Inc now owns 9,417 shares of the shipping service provider’s stock valued at $2,047,000 after purchasing an additional 734 shares during the period. Callahan Advisors LLC lifted its stake in shares of FedEx Corporation by 2.3% in the 2nd quarter. Callahan Advisors LLC now owns 39,755 shares of the shipping service provider’s stock valued at $8,640,000 after purchasing an additional 887 shares during the period. Finally, Rand Wealth LLC lifted its stake in shares of FedEx Corporation by 2.6% in the 2nd quarter. Rand Wealth LLC now owns 17,907 shares of the shipping service provider’s stock valued at $3,892,000 after purchasing an additional 458 shares during the period. 75.86% of the stock is currently owned by institutional investors.

In other FedEx Corporation news, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation 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 completion of the sale, the chief executive officer now owns 29,148 shares of the company’s stock, valued at approximately $6,150,228. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kim Jabal sold 609 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $216.13, for a total transaction of $131,623.17. Following the completion of the sale, the director now directly owns 2,100 shares of the company’s stock, valued at approximately $453,873. The disclosure for this sale can be found here. Insiders have sold 77,757 shares of company stock valued at $16,447,426 in the last three months. 8.45% of the stock is owned by insiders.

A number of research analysts have recently issued reports on FDX shares. ValuEngine raised FedEx Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 price objective on the stock in a research note on Friday, June 2nd. UBS AG reissued a “buy” rating and issued a $235.00 price objective (up from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Deutsche Bank AG set a $235.00 price objective on FedEx Corporation and gave the company a “buy” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation reissued a “buy” rating and issued a $240.00 price objective (up from $230.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. FedEx Corporation currently has an average rating of “Buy” and a consensus target price of $223.85.

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FedEx Corporation (FDX) opened at 214.83 on Friday. FedEx Corporation has a 12-month low of $159.55 and a 12-month high of $219.99. The stock has a 50 day moving average price of $209.74 and a 200 day moving average price of $201.96. The company has a market capitalization of $57.63 billion, a price-to-earnings ratio of 19.41 and a beta of 1.28.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the Thomson Reuters’ 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 net margin of 4.97% and a return on equity of 22.19%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.30 earnings per share. On average, analysts expect that FedEx Corporation will post $13.48 EPS for the current year.

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

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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