FedEx Corporation (FDX) Shares Bought by National Asset Management Inc.

National Asset Management Inc. grew its position in FedEx Corporation (NYSE:FDX) by 15.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,909 shares of the shipping service provider’s stock after acquiring an additional 257 shares during the quarter. National Asset Management Inc.’s holdings in FedEx Corporation were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of FedEx Corporation by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after acquiring an additional 492,840 shares during the last quarter. BlackRock Inc. increased its holdings in shares of FedEx Corporation by 1,912.1% in 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 last quarter. FMR LLC increased its holdings in shares of FedEx Corporation by 0.3% in the 2nd quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock valued at $984,539,000 after acquiring an additional 15,382 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of FedEx Corporation by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,659,103 shares of the shipping service provider’s stock valued at $795,260,000 after acquiring an additional 13,383 shares during the last quarter. Finally, Capital World Investors increased its holdings in shares of FedEx Corporation by 16.1% in the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock valued at $785,626,000 after acquiring an additional 501,617 shares during the last quarter. Institutional investors and hedge funds own 76.27% of the company’s stock.

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FDX has been the subject of a number of research analyst reports. Vetr downgraded FedEx Corporation to a “sell” rating and set a $204.84 price target for the company. in a report on Thursday, August 31st. J P Morgan Chase & Co boosted their price target on FedEx Corporation from $237.00 to $264.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating and issued a $233.00 price target (down from $242.00) on shares of FedEx Corporation in a report on Friday, September 15th. Robert W. Baird restated a “buy” rating and set a $235.00 price objective on shares of FedEx Corporation in a research note on Tuesday, September 12th. Finally, Cowen and Company restated a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. FedEx Corporation presently has a consensus rating of “Buy” and a consensus target price of $228.56.

In related news, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president now directly owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock worth $9,024,637 over the last ninety days. 8.45% of the stock is owned by insiders.

Shares of FedEx Corporation (NYSE:FDX) opened at $218.15 on Friday. The stock has a market capitalization of $58,496.49, a price-to-earnings ratio of 18.32, a PEG ratio of 1.37 and a beta of 1.37. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. FedEx Corporation has a 52-week low of $182.11 and a 52-week high of $231.35.

FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $2.90 earnings per share. research analysts anticipate that FedEx Corporation will post 12.47 EPS for the current fiscal 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.

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

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