Cypress Asset Management Inc. TX increased its position in FedEx Corporation (NYSE:FDX) by 6.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,580 shares of the shipping service provider’s stock after buying an additional 600 shares during the period. Cypress Asset Management Inc. TX’s holdings in FedEx Corporation were worth $2,082,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. boosted its position 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 worth $105,000 after buying an additional 300 shares in the last quarter. Cribstone Capital Management LLC boosted its position 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 worth $107,000 after buying an additional 6 shares in the last quarter. FNY Managed Accounts LLC bought a new position in shares of FedEx Corporation during the first quarter worth approximately $100,000. Alexandria Capital LLC boosted its position 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 worth $103,000 after buying an additional 11 shares in the last quarter. Finally, Pinnacle Bank bought a new position in shares of FedEx Corporation during the first quarter worth approximately $122,000. Institutional investors own 76.00% of the company’s stock.
FedEx Corporation (FDX) traded down 1.5205% during trading on Thursday, hitting $206.4425. The stock had a trading volume of 321,231 shares. The stock has a 50-day moving average price of $212.29 and a 200-day moving average price of $198.99. FedEx Corporation has a 52 week low of $158.20 and a 52 week high of $219.99. The company has a market cap of $55.38 billion, a PE ratio of 18.6488 and a beta of 1.27.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.88 by $0.37. The company had revenue of $15.70 billion during the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The company’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the business posted $3.30 earnings per share. Equities analysts predict that FedEx Corporation will post $13.58 EPS for the current year.
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A number of brokerages have commented on FDX. UBS AG restated a “buy” rating and set a $235.00 price objective (up previously from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Cowen and Company restated a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research note on Thursday, August 10th. Stifel Nicolaus restated a “neutral” rating on shares of FedEx Corporation in a research note on Wednesday. BidaskClub cut FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Credit Suisse Group restated a “buy” rating and set a $237.00 price objective on shares of FedEx Corporation in a research note on Monday, August 7th. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $221.78.
In other news, EVP Robert B. Carter sold 24,522 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total transaction of $5,173,161.12. Following the completion of the sale, the executive vice president now owns 68,556 shares of the company’s stock, valued at $14,462,573.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kim Jabal sold 609 shares of the firm’s 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 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. In the last ninety days, insiders have sold 77,757 shares of company stock valued at $16,447,426. Company insiders own 8.67% of the company’s stock.
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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