Signature Financial Management Inc. decreased its holdings in shares of FedEx Corporation (NYSE:FDX) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,794 shares of the shipping service provider’s stock after selling 78 shares during the period. Signature Financial Management Inc.’s holdings in FedEx Corporation were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of FDX. BlackRock Inc. grew its position in shares of FedEx Corporation by 1,912.1% during the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after acquiring an additional 14,086,601 shares during the period. Harbour Capital Advisors LLC grew its position in shares of FedEx Corporation by 21,011.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock valued at $6,556,000 after acquiring an additional 1,418,066 shares during the period. Vanguard Group Inc. grew its position in shares of FedEx Corporation by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock valued at $3,512,158,000 after acquiring an additional 918,896 shares during the period. Pioneer Investment Management Inc. grew its position in shares of FedEx Corporation by 1,611.5% during the 1st quarter. Pioneer Investment Management Inc. now owns 870,646 shares of the shipping service provider’s stock valued at $169,906,000 after acquiring an additional 819,777 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of FedEx Corporation by 360.6% during the 1st quarter. Nordea Investment Management AB now owns 935,838 shares of the shipping service provider’s stock valued at $182,629,000 after acquiring an additional 732,644 shares during the period. 75.84% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on FDX shares. Vetr downgraded shares of FedEx Corporation to a “sell” rating and set a $204.84 price objective for the company. in a research report on Thursday, August 31st. J P Morgan Chase & Co reissued an “overweight” rating and set a $237.00 price objective on shares of FedEx Corporation in a research report on Wednesday, June 21st. Credit Suisse Group boosted their price objective on shares of FedEx Corporation from $225.00 to $237.00 and gave the company an “outperform” rating in a research report on Wednesday, June 21st. Cowen and Company reissued an “outperform” rating and set a $240.00 price objective on shares of FedEx Corporation in a research report on Wednesday, June 21st. Finally, Oppenheimer Holdings, Inc. boosted their price objective on shares of FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a research report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $225.26.

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

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

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

In other FedEx Corporation news, 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 transaction of $131,623.17. Following the transaction, the director now directly owns 2,100 shares of the company’s stock, valued at $453,873. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the transaction, the director now directly owns 30,608 shares in the company, valued at $6,370,749.12. The disclosure for this sale can be found here. 8.45% of the stock is owned by 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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