Chemical Bank increased its position in FedEx Corporation (NYSE:FDX) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,488 shares of the shipping service provider’s stock after acquiring an additional 847 shares during the period. Chemical Bank’s holdings in FedEx Corporation were worth $3,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. raised its stake in FedEx Corporation by 163.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock worth $105,000 after acquiring an additional 300 shares during the last quarter. Cribstone Capital Management LLC raised its stake in FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after acquiring an additional 6 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in FedEx Corporation during the 1st quarter worth about $100,000. Alexandria Capital LLC grew its position in FedEx Corporation by 2.5% during the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after purchasing an additional 13 shares during the period. Finally, Hefty Wealth Partners grew its position in FedEx Corporation by 26.0% during the 2nd quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock worth $136,000 after purchasing an additional 130 shares during the period. Institutional investors own 75.88% of the company’s stock.

FedEx Corporation (NYSE:FDX) opened at 225.07 on Friday. FedEx Corporation has a 1-year low of $170.16 and a 1-year high of $227.00. The stock has a market capitalization of $60.35 billion, a price-to-earnings ratio of 21.22 and a beta of 1.31. The firm has a 50-day moving average of $219.23 and a 200-day moving average of $207.09.

FedEx Corporation (NYSE:FDX) last issued its 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 20.69% and a net margin of 4.72%. The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. During the same quarter in the previous year, the company posted $2.90 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that FedEx Corporation will post $12.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.89%. FedEx Corporation’s dividend payout ratio is presently 18.87%.

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Several equities research analysts have weighed in on FDX shares. Vetr downgraded FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 price target on the stock. in a research report on Monday, June 26th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $220.00 price target on shares of FedEx Corporation in a research report on Monday, July 3rd. Loop Capital reaffirmed a “buy” rating and set a $234.00 price target on shares of FedEx Corporation in a research report on Tuesday, July 4th. Cowen and Company reaffirmed a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research report on Tuesday, July 11th. Finally, BidaskClub downgraded FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $228.56.

In other news, Director John A. Edwardson sold 2,208 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $208.14, for a total value of $459,573.12. Following the sale, the director now directly owns 30,608 shares in the company, valued at $6,370,749.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the completion of the sale, the chief executive officer now owns 53,397 shares in the company, valued at $12,059,712.45. The disclosure for this sale can be found here. Insiders sold 27,172 shares of company stock worth $6,039,193 over the last quarter. Company insiders own 8.45% 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.

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

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