SOL Capital Management CO decreased its stake in shares of FedEx Corporation (NYSE:FDX) by 3.4% during the second quarter, Holdings Channel reports. The firm owned 10,822 shares of the shipping service provider’s stock after selling 384 shares during the period. SOL Capital Management CO’s holdings in FedEx Corporation were worth $2,352,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FDX. Cribstone Capital Management LLC increased its stake 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 increased its stake 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. increased its stake 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 increased its stake 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, Brick & Kyle Associates increased its stake in shares of FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares during the period. 76.00% of the stock is currently owned by institutional investors.

FedEx Corporation (NYSE:FDX) traded up 0.77% during midday trading on Tuesday, reaching $209.46. 348,265 shares of the company traded hands. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99. The stock has a market capitalization of $56.19 billion, a P/E ratio of 18.92 and a beta of 1.27. The firm has a 50-day moving average of $212.60 and a 200-day moving average of $198.82.

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

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Several analysts recently commented on the stock. Vetr raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective on the stock in a research report on Wednesday, May 17th. UBS AG reissued a “buy” rating and set a $235.00 price objective (up from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Stephens set a $246.00 price objective on shares of FedEx Corporation and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Zacks Investment Research raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research report on Tuesday, May 23rd. Finally, Seaport Global Securities assumed coverage on shares of FedEx Corporation in a research report on Tuesday, June 6th. They set a “neutral” rating on the stock. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has an average 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 that occurred on 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 transaction, the director now directly owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John L. Merino sold 7,200 shares of the business’s 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 completion of the transaction, the vice president now directly owns 33,908 shares of the company’s stock, valued at $7,163,404.08. The disclosure for this sale can be found here. Insiders sold 77,757 shares of company stock valued at $16,447,426 over the last three months. 8.67% of the stock is currently owned by corporate insiders.

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

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