Bill & Melinda Gates Foundation Trust continued to hold its position in shares of FedEx Corporation (NYSE:FDX) during the first quarter, Holdings Channel reports. The fund owned 3,024,999 shares of the shipping service provider’s stock at the end of the first quarter. FedEx Corporation accounts for approximately 3.1% of Bill & Melinda Gates Foundation Trust’s portfolio, making the stock its 6th largest position. Bill & Melinda Gates Foundation Trust’s holdings in FedEx Corporation were worth $590,329,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FDX. Northwestern Mutual Wealth Management Co. raised its position in FedEx Corporation by 2.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock valued at $13,641,000 after buying an additional 1,852 shares during the period. Quantitative Systematic Strategies LLC raised its position in FedEx Corporation by 354.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 13,026 shares of the shipping service provider’s stock valued at $2,542,000 after buying an additional 10,159 shares during the period. Madison Investment Holdings Inc. raised its position in FedEx Corporation by 63.6% in the first quarter. Madison Investment Holdings Inc. now owns 181,250 shares of the shipping service provider’s stock valued at $35,371,000 after buying an additional 70,436 shares during the period. ING Groep NV raised its position in FedEx Corporation by 245.5% in the first quarter. ING Groep NV now owns 17,525 shares of the shipping service provider’s stock valued at $3,420,000 after buying an additional 12,453 shares during the period. Finally, Webster Bank N. A. raised its position in FedEx Corporation by 20.3% in the first quarter. Webster Bank N. A. now owns 2,154 shares of the shipping service provider’s stock valued at $420,000 after buying an additional 364 shares during the period. Hedge funds and other institutional investors own 76.36% of the company’s stock.

Shares of FedEx Corporation (NYSE:FDX) traded up 0.94% during trading on Friday, reaching $205.46. 304,300 shares of the company traded hands. The stock’s 50 day moving average price is $213.01 and its 200-day moving average price is $198.48. The stock has a market cap of $55.12 billion, a P/E ratio of 18.56 and a beta of 1.27. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99.

FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.30 EPS. On average, equities research analysts expect that FedEx Corporation will post $13.58 EPS for the current fiscal year.

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FDX has been the subject of several research reports. Bank of America Corporation restated a “buy” rating and set a $240.00 price objective (up previously from $230.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Cowen and Company restated an “outperform” rating and set a $240.00 price objective on shares of FedEx Corporation in a research report on Wednesday, June 21st. Zacks Investment Research upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 price objective for the company in a research report on Friday, June 2nd. Loop Capital restated a “buy” rating and set a $234.00 price objective on shares of FedEx Corporation in a research report on Tuesday, July 4th. Finally, UBS AG restated a “buy” rating and set a $235.00 price objective (up previously from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. FedEx Corporation presently has an average rating of “Buy” and a consensus target price of $221.78.

In other FedEx Corporation news, insider Henry J. Maier sold 12,580 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 38,177 shares in the company, valued at approximately $7,998,081.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the business’s 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 completion of the sale, the director now owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. Insiders sold a total of 77,757 shares of company stock worth $16,447,426 in the last 90 days. Company insiders own 8.67% 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.

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

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