United Services Automobile Association cut its stake in FedEx Corporation (NYSE:FDX) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 0.07% of FedEx Corporation worth $35,098,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. raised its position in shares of FedEx Corporation by 4.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 259,990 shares of the shipping service provider’s stock worth $50,737,000 after buying an additional 11,201 shares during the period. Bridges Investment Management Inc. raised its position in shares of FedEx Corporation by 4.5% in the first quarter. Bridges Investment Management Inc. now owns 35,384 shares of the shipping service provider’s stock worth $6,905,000 after buying an additional 1,526 shares during the period. F&V Capital Management LLC raised its position in shares of FedEx Corporation by 8.7% in the first quarter. F&V Capital Management LLC now owns 40,465 shares of the shipping service provider’s stock worth $7,897,000 after buying an additional 3,245 shares during the period. Triangle Securities Wealth Management raised its position in shares of FedEx Corporation by 1.9% in the first quarter. Triangle Securities Wealth Management now owns 2,376 shares of the shipping service provider’s stock worth $464,000 after buying an additional 45 shares during the period. Finally, Atalanta Sosnoff Capital LLC boosted its position in shares of FedEx Corporation by 21.2% in the first quarter. Atalanta Sosnoff Capital LLC now owns 208,111 shares of the shipping service provider’s stock valued at $40,612,000 after buying an additional 36,459 shares in the last quarter. 76.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FedEx Corporation (NYSE:FDX) opened at 204.87 on Friday. The company 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. The stock’s 50 day moving average price is $212.82 and its 200-day moving average price is $198.62.
FedEx Corporation (NYSE:FDX) last issued its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The business had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts expect that FedEx Corporation will post $13.58 EPS for the current year.
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FDX has been the subject of several research reports. Vetr cut FedEx Corporation from a “strong-buy” rating to a “buy” rating and set a $203.90 target price for the company. in a research note on Wednesday, April 19th. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Tuesday, May 23rd. ValuEngine upgraded FedEx Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Seaport Global Securities started coverage on FedEx Corporation in a research report on Tuesday, June 6th. They issued a “neutral” rating for the company. Finally, Stifel Nicolaus increased their price target on FedEx Corporation from $194.00 to $216.00 and gave the company a “hold” rating in a research report on Monday, June 12th. Six equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $221.78.
In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $208.14, for a total transaction of $459,573.12. Following the sale, the director now owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kim Jabal sold 5,918 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $216.05, for a total transaction of $1,278,583.90. Following the completion of the transaction, the director now directly owns 3,610 shares in the company, valued at approximately $779,940.50. The disclosure for this sale can be found here. Insiders have sold a total of 77,757 shares of company stock worth $16,447,426 in the last three months. Insiders own 8.67% of the company’s stock.
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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