Allen Investment Management LLC raised its stake in FedEx Corporation (NYSE:FDX) by 2.1% during the first quarter, Holdings Channel reports. The firm owned 3,809 shares of the shipping service provider’s stock after buying an additional 78 shares during the period. Allen Investment Management LLC’s holdings in FedEx Corporation were worth $743,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FDX. Alexandria Capital LLC increased its position in FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock worth $103,000 after buying an additional 11 shares during the period. Pinnacle Bank purchased a new position in FedEx Corporation during the first quarter worth approximately $122,000. Adirondack Trust Co. increased its position in FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock worth $129,000 after buying an additional 10 shares during the period. Brick & Kyle Associates increased its position in FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after buying an additional 10 shares during the period. Finally, Guardian Life Insurance Co. of America increased its position in 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 worth $184,000 after buying an additional 9 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 down 0.65% on Thursday, hitting $204.83. The stock had a trading volume of 119,760 shares. The firm’s 50-day moving average is $213.26 and its 200 day moving average is $198.44. The stock has a market cap of $54.95 billion, a P/E ratio of 18.50 and a beta of 1.27. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping the 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 business had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. During the same quarter in the previous year, the firm earned $3.30 EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. Equities analysts forecast that FedEx Corporation will post $13.58 EPS for the current year.

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A number of equities analysts have recently commented on FDX shares. Zacks Investment Research upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Tuesday, May 23rd. Vetr upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective on the stock in a report on Wednesday, May 17th. J P Morgan Chase & Co restated an “overweight” rating and issued a $237.00 price objective on shares of FedEx Corporation in a report on Wednesday, June 21st. Credit Suisse Group raised their price objective on FedEx Corporation from $225.00 to $237.00 and gave the stock an “outperform” rating in a report on Wednesday, June 21st. Finally, Cowen and Company restated an “outperform” rating and issued a $240.00 price objective on shares of FedEx Corporation in a report on Wednesday, June 21st. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $221.78.

In other FedEx Corporation news, insider Henry J. Maier sold 12,580 shares of the company’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 completion of the transaction, the insider now owns 38,177 shares of the company’s stock, valued at approximately $7,998,081.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the company’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 transaction, the director now directly owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,757 shares of company stock valued at $16,447,426. 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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