Abbrea Capital LLC lowered its stake in FedEx Corporation (NYSE:FDX) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,685 shares of the shipping service provider’s stock after selling 325 shares during the quarter. Abbrea Capital LLC’s holdings in FedEx Corporation were worth $2,328,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Cribstone Capital Management LLC lifted its stake 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 worth $107,000 after purchasing an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America lifted its stake in FedEx Corporation by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after purchasing an additional 9 shares in the last quarter. Brick & Kyle Associates lifted its stake in FedEx Corporation by 1.5% in the 1st quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after purchasing an additional 10 shares in the last quarter. Park National Corp OH lifted its stake in FedEx Corporation by 0.9% in the 2nd quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock worth $256,000 after purchasing an additional 10 shares in the last quarter. Finally, Argent Trust Co lifted its stake in FedEx Corporation by 0.3% in the 1st quarter. Argent Trust Co now owns 4,516 shares of the shipping service provider’s stock worth $882,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

In related news, Director Kim Jabal sold 609 shares of FedEx Corporation stock in a transaction that occurred on 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 owns 2,100 shares in the company, valued at $453,873. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the transaction, 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. 8.45% of the stock is owned by company insiders.

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Shares of FedEx Corporation (NYSE FDX) opened at 220.00 on Monday. The stock has a market cap of $58.99 billion, a PE ratio of 20.74 and a beta of 1.28. FedEx Corporation has a 12 month low of $168.00 and a 12 month high of $222.71. The stock has a 50 day moving average of $210.17 and a 200 day moving average of $202.36.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. During the same quarter in the prior year, the business earned $2.90 earnings per share. FedEx Corporation’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that FedEx Corporation will post $12.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, September 8th. FedEx Corporation’s dividend payout ratio is presently 18.87%.

Several analysts have 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. Stephens set a $246.00 target price on shares of FedEx Corporation and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Stifel Nicolaus restated a “neutral” rating on shares of FedEx Corporation in a research report on Wednesday, August 16th. Wells Fargo & Co upped their target price on shares of FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Seaport Global Securities assumed coverage on shares of FedEx Corporation in a research report on Tuesday, June 6th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $225.26.

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.

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

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