Institute for Wealth Management LLC. Invests $516,000 in FedEx Corporation (FDX)

Institute for Wealth Management LLC. acquired a new stake in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,379 shares of the shipping service provider’s stock, valued at approximately $516,000.

Several other institutional investors have also recently made changes to their positions in FDX. Northwestern Mutual Investment Management Company LLC increased its position in shares of FedEx Corporation by 76.5% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 49,564 shares of the shipping service provider’s stock valued at $9,672,000 after purchasing an additional 21,489 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of FedEx Corporation by 2.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock valued at $13,641,000 after purchasing an additional 1,852 shares during the last quarter. First National Trust Co. increased its position in shares of FedEx Corporation by 19.1% during the 1st quarter. First National Trust Co. now owns 2,219 shares of the shipping service provider’s stock valued at $433,000 after purchasing an additional 356 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of FedEx Corporation by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 274,175 shares of the shipping service provider’s stock valued at $53,505,000 after purchasing an additional 1,170 shares during the last quarter. Finally, Abbrea Capital LLC increased its position in shares of FedEx Corporation by 10.3% during the 1st quarter. Abbrea Capital LLC now owns 11,010 shares of the shipping service provider’s stock valued at $2,153,000 after purchasing an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 76.16% of the company’s stock.

Several equities analysts recently issued reports on FDX shares. Cowen and Company restated a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research report on Tuesday, July 11th. Citigroup Inc restated a “buy” rating and set a $235.00 price target on shares of FedEx Corporation in a research report on Thursday, September 14th. Robert W. Baird restated a “buy” rating and set a $235.00 price target on shares of FedEx Corporation in a research report on Tuesday, September 12th. BMO Capital Markets restated a “buy” rating and set a $245.00 price target on shares of FedEx Corporation in a research report on Wednesday, September 6th. Finally, Credit Suisse Group restated a “buy” rating and set a $237.00 price target on shares of FedEx Corporation in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $228.56.

In related news, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now directly owns 36,747 shares of the company’s stock, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is owned by corporate insiders.

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FedEx Corporation (NYSE:FDX) opened at $224.24 on Friday. The stock has a market cap of $60.41 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.42 and a beta of 1.37. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 the consensus estimate of $15.35 billion. During the same period last year, the business earned $2.90 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. equities analysts predict that FedEx Corporation will post 12.48 earnings per share for the current year.

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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