Summit Financial Strategies Inc. purchased a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,135 shares of the shipping service provider’s stock, valued at approximately $247,000.

Several other hedge funds have also recently made changes to their positions in FDX. Parsons Capital Management Inc. RI grew its holdings in shares of FedEx Corporation by 20.8% in the 1st quarter. Parsons Capital Management Inc. RI now owns 2,033 shares of the shipping service provider’s stock valued at $397,000 after buying an additional 350 shares during the period. Weatherly Asset Management L. P. grew its holdings in shares of FedEx Corporation by 0.6% in the 1st quarter. Weatherly Asset Management L. P. now owns 5,190 shares of the shipping service provider’s stock valued at $1,013,000 after buying an additional 30 shares during the period. Jennison Associates LLC grew its holdings in shares of FedEx Corporation by 5.4% in the 1st quarter. Jennison Associates LLC now owns 3,429,971 shares of the shipping service provider’s stock valued at $669,359,000 after buying an additional 175,777 shares during the period. Cookson Peirce & Co. Inc. grew its holdings in shares of FedEx Corporation by 29.3% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 8,080 shares of the shipping service provider’s stock valued at $1,577,000 after buying an additional 1,830 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of FedEx Corporation in the 1st quarter valued at $844,000. 75.84% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: This report was published by Watch List News and is owned by of Watch List News. If you are reading this report on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The correct version of this report can be viewed at https://www.watchlistnews.com/1135-shares-in-fedex-corporation-fdx-acquired-by-summit-financial-strategies-inc/1576978.html.

In other FedEx Corporation news, Director Kim Jabal sold 5,918 shares of FedEx Corporation stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $216.05, for a total value of $1,278,583.90. Following the sale, the director now owns 3,610 shares of the company’s stock, valued at $779,940.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction dated 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 sale, the director now directly owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,890 shares of company stock worth $3,411,468. 8.45% of the stock is owned by corporate insiders.

Several brokerages have recently issued reports on FDX. Stifel Nicolaus reissued a “hold” rating and issued a $221.00 price target (up previously from $216.00) on shares of FedEx Corporation in a report on Wednesday. Bank of America Corporation reissued a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a report on Wednesday. Cowen and Company reissued a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a report on Tuesday, July 11th. Loop Capital reaffirmed a “buy” rating and issued a $234.00 target price on shares of FedEx Corporation in a research note on Tuesday, July 4th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $220.00 target price on shares of FedEx Corporation in a research note on Monday, July 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $224.43.

Shares of FedEx Corporation (NYSE FDX) opened at 220.50 on Thursday. The company has a market capitalization of $59.15 billion, a PE ratio of 19.92 and a beta of 1.28. The stock has a 50 day moving average of $210.17 and a 200-day moving average of $202.36. FedEx Corporation has a one year low of $168.00 and a one year high of $222.71.

FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 21.15% and a net margin of 4.72%. The firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter last year, the firm posted $2.90 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts forecast that FedEx Corporation will post $13.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, September 8th. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.87%.

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.

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

Receive News & Ratings for FedEx Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.