BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in FedEx Corporation (NYSE:FDX) by 20.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 108,900 shares of the shipping service provider’s stock after selling 28,182 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in FedEx Corporation were worth $23,667,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Shaker Investments LLC OH bought a new stake in shares of FedEx Corporation during the first quarter valued at about $293,000. Wedge Capital Management L L P NC raised its stake in shares of FedEx Corporation by 0.7% during the first quarter. Wedge Capital Management L L P NC now owns 54,331 shares of the shipping service provider’s stock valued at $10,603,000 after purchasing an additional 384 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of FedEx Corporation by 4.7% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 51,221 shares of the shipping service provider’s stock valued at $9,996,000 after purchasing an additional 2,277 shares in the last quarter. Webster Bank N. A. raised its stake in shares of FedEx Corporation by 20.3% during the first quarter. Webster Bank N. A. now owns 2,154 shares of the shipping service provider’s stock valued at $420,000 after purchasing an additional 364 shares in the last quarter. Finally, Parnassus Investments CA raised its stake in shares of FedEx Corporation by 25.0% during the first quarter. Parnassus Investments CA now owns 125,000 shares of the shipping service provider’s stock valued at $24,394,000 after purchasing an additional 25,000 shares in the last quarter. Institutional investors own 75.84% of the company’s stock.

In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the sale, the director now directly owns 30,608 shares in the company, valued at $6,370,749.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 30,499 shares of the company’s stock, valued at $6,709,780. The disclosure for this sale can be found here. Insiders sold 12,817 shares of company stock valued at $2,791,196 over the last 90 days. Corporate insiders own 8.45% of the company’s stock.

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A number of brokerages recently weighed in on FDX. Wells Fargo & Company lifted their price objective on shares of FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, September 21st. Bank of America Corporation restated a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research note on Wednesday, September 20th. Stifel Nicolaus restated a “hold” rating and set a $221.00 price objective (up from $216.00) on shares of FedEx Corporation in a research note on Wednesday, September 20th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $229.00 price objective on shares of FedEx Corporation in a research note on Wednesday, September 20th. Finally, Sanford C. Bernstein set a $212.00 price objective on shares of FedEx Corporation and gave the company a “neutral” rating in a research note on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $225.26.

Shares of FedEx Corporation (NYSE:FDX) opened at 219.20 on Tuesday. The firm has a market capitalization of $58.78 billion, a price-to-earnings ratio of 20.67 and a beta of 1.28. The firm’s 50-day moving average price is $210.17 and its 200-day moving average price is $202.36. FedEx Corporation has a 12 month low of $168.00 and a 12 month high of $222.71.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The business had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. During the same quarter last year, the company earned $2.90 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Corporation will post $12.75 earnings per share for the current year.

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

FedEx Corporation 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)

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