FedEx Corporation (FDX) Shares Sold by United Services Automobile Association

United Services Automobile Association lowered its position in FedEx Corporation (NYSE:FDX) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 179,852 shares of the shipping service provider’s stock after selling 9,955 shares during the period. United Services Automobile Association owned approximately 0.07% of FedEx Corporation worth $35,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Credit Agricole S A increased its stake in shares of FedEx Corporation by 11.9% in the first quarter. Credit Agricole S A now owns 454,207 shares of the shipping service provider’s stock worth $88,638,000 after buying an additional 48,380 shares during the period. ZWJ Investment Counsel Inc. increased its position in FedEx Corporation by 57.9% in the first quarter. ZWJ Investment Counsel Inc. now owns 7,420 shares of the shipping service provider’s stock valued at $1,448,000 after buying an additional 2,720 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in FedEx Corporation by 30.0% in the first quarter. Chicago Partners Investment Group LLC now owns 1,299 shares of the shipping service provider’s stock valued at $253,000 after buying an additional 300 shares during the last quarter. Covington Investment Advisors Inc. increased its position in FedEx Corporation by 0.7% in the first quarter. Covington Investment Advisors Inc. now owns 20,557 shares of the shipping service provider’s stock valued at $4,012,000 after buying an additional 135 shares during the last quarter. Finally, Traynor Capital Management Inc. increased its position in FedEx Corporation by 17.0% in the first quarter. Traynor Capital Management Inc. now owns 2,957 shares of the shipping service provider’s stock valued at $559,000 after buying an additional 430 shares during the last quarter. 76.36% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Corporation (FDX) opened at 204.87 on Friday. The company has a 50-day moving average of $212.82 and a 200-day moving average of $198.62. The stock has a market cap of $54.96 billion, a P/E ratio of 18.51 and a beta of 1.27. FedEx Corporation has a 52 week low of $158.20 and a 52 week high of $219.99.

FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. FedEx Corporation’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.30 EPS. On average, analysts predict that FedEx Corporation will post $13.58 EPS for the current fiscal year.

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Several research firms have issued reports on FDX. Cowen and Company reaffirmed a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a report on Thursday. Credit Suisse Group reaffirmed a “buy” rating and set a $237.00 price objective on shares of FedEx Corporation in a report on Monday, August 7th. BidaskClub downgraded shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Vetr raised shares of FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 price objective on the stock in a report on Tuesday, July 18th. Finally, Loop Capital reaffirmed a “buy” rating and set a $234.00 price objective on shares of FedEx Corporation in a report on Tuesday, July 4th. Six investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $221.78.

In other news, Director John A. Edwardson sold 2,208 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was 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 directly owns 30,608 shares in the company, valued at approximately $6,370,749.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP John L. Merino sold 7,200 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total value of $1,521,072.00. Following the transaction, the vice president now owns 33,908 shares of the company’s stock, valued at $7,163,404.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is owned by company insiders.

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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