Seaward Management Limited Partnership decreased its stake in FedEx Corporation (NYSE:FDX) by 81.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,522 shares of the shipping service provider’s stock after selling 6,665 shares during the period. Seaward Management Limited Partnership’s holdings in FedEx Corporation were worth $297,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in FedEx Corporation by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after buying an additional 14,086,601 shares in the last quarter. Vanguard Group Inc. increased its stake in FedEx Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock valued at $3,512,158,000 after buying an additional 918,896 shares in the last quarter. Pioneer Investment Management Inc. increased its stake in FedEx Corporation by 1,611.5% in the first quarter. Pioneer Investment Management Inc. now owns 870,646 shares of the shipping service provider’s stock valued at $169,906,000 after buying an additional 819,777 shares in the last quarter. Nordea Investment Management AB increased its stake in FedEx Corporation by 360.6% in the first quarter. Nordea Investment Management AB now owns 935,838 shares of the shipping service provider’s stock valued at $182,629,000 after buying an additional 732,644 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in FedEx Corporation by 1,881.6% in the first quarter. Macquarie Group Ltd. now owns 695,332 shares of the shipping service provider’s stock valued at $135,694,000 after buying an additional 660,242 shares in the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

FedEx Corporation (NYSE:FDX) traded up 0.68% during midday trading on Wednesday, reaching $210.49. 223,391 shares of the company’s stock traded hands. The stock has a 50-day moving average of $212.43 and a 200 day moving average of $198.92. FedEx Corporation has a 52-week low of $158.20 and a 52-week high of $219.99. The company has a market cap of $56.47 billion, a P/E ratio of 19.01 and a beta of 1.27.

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

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FDX has been the subject of several recent analyst reports. Zacks Investment Research raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Tuesday, May 23rd. Vetr raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price target for the company in a report on Wednesday, May 17th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $237.00 price target on shares of FedEx Corporation in a report on Wednesday, June 21st. Credit Suisse Group increased their price target on shares of FedEx Corporation from $225.00 to $237.00 and gave the company an “outperform” rating in a report on Wednesday, June 21st. Finally, Cowen and Company reissued an “outperform” rating and issued a $240.00 price target on shares of FedEx Corporation in a report on Wednesday, June 21st. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $221.78.

In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of the business’s 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 transaction, the director now owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Henry J. Maier sold 12,580 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $209.50, for a total value of $2,635,510.00. Following the transaction, the insider now directly owns 38,177 shares of the company’s stock, valued at approximately $7,998,081.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,757 shares of company stock valued at $16,447,426. Insiders own 8.67% of the company’s stock.

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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