APG Asset Management N.V. increased its stake in FedEx Corporation (NYSE:FDX) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 362,281 shares of the shipping service provider’s stock after buying an additional 7,905 shares during the period. APG Asset Management N.V.’s holdings in FedEx Corporation were worth $78,735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cribstone Capital Management LLC raised its position in shares of FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 6 shares during the period. Cornerstone Financial Partners LLC raised its position in shares of FedEx Corporation by 0.3% in the first quarter. Cornerstone Financial Partners LLC now owns 2,118 shares of the shipping service provider’s stock valued at $413,000 after buying an additional 7 shares during the period. Beese Fulmer Investment Management Inc. raised its position in shares of FedEx Corporation by 0.6% in the first quarter. Beese Fulmer Investment Management Inc. now owns 1,327 shares of the shipping service provider’s stock valued at $259,000 after buying an additional 8 shares during the period. Guardian Life Insurance Co. of America raised its position in shares of FedEx Corporation by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock valued at $184,000 after buying an additional 9 shares during the period. Finally, Adirondack Trust Co. raised its position in shares of FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 76.36% of the company’s stock.

Shares of FedEx Corporation (FDX) traded up 1.53% during mid-day trading on Friday, hitting $206.67. 482,816 shares of the stock were exchanged. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99. The stock’s 50 day moving average is $213.01 and its 200-day moving average is $198.48. The stock has a market cap of $55.44 billion, a PE ratio of 18.67 and a beta of 1.27.

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

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Several research analysts recently issued reports on the stock. Vetr upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price target for the company in a research note on Wednesday, May 17th. UBS AG reiterated a “buy” rating and issued a $235.00 price target (up from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Stephens set a $246.00 price target on shares of FedEx Corporation and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Cowen and Company reiterated a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research note on Tuesday, May 23rd. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. FedEx Corporation currently has an average rating of “Buy” and a consensus target price of $221.78.

In related news, 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 in the company, valued at approximately $7,163,404.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the completion of the transaction, the chief executive officer now owns 29,148 shares in the company, valued at approximately $6,150,228. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,757 shares of company stock worth $16,447,426. 8.67% of the stock is owned by corporate 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.

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

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