Harris Associates L P cut its stake in FedEx Corporation (NYSE:FDX) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,502,601 shares of the shipping service provider’s stock after selling 43,100 shares during the quarter. Harris Associates L P owned approximately 0.93% of FedEx Corporation worth $543,890,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FNY Managed Accounts LLC purchased a new position in FedEx Corporation in the 1st quarter worth approximately $100,000. Riggs Asset Managment Co. Inc. lifted 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 purchasing an additional 300 shares in the last quarter. Cribstone Capital Management LLC lifted 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 purchasing an additional 6 shares in the last quarter. Alexandria Capital LLC lifted its stake in FedEx Corporation by 2.5% in 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 in the last quarter. Finally, Hefty Wealth Partners lifted its stake in FedEx Corporation by 26.0% in 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 in the last quarter. 76.16% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Harris Associates L P Decreases Position in FedEx Corporation (FDX)” was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another site, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this story can be read at https://www.watchlistnews.com/harris-associates-l-p-decreases-position-in-fedex-corporation-fdx/1677543.html.

FedEx Corporation (NYSE FDX) opened at $224.24 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $60.41 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.37.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.90 EPS. research analysts forecast that FedEx Corporation will post 12.48 earnings per share for the current fiscal year.

FDX has been the topic of a number of research reports. Cowen and Company reissued a “buy” rating and issued a $240.00 target price on shares of FedEx Corporation in a research note on Tuesday, July 11th. Citigroup Inc reissued a “buy” rating and issued a $235.00 target price on shares of FedEx Corporation in a research note on Thursday, September 14th. Robert W. Baird reissued a “buy” rating and issued a $235.00 target price on shares of FedEx Corporation in a research note on Tuesday, September 12th. BMO Capital Markets reissued a “buy” rating and issued a $245.00 target price on shares of FedEx Corporation in a research note on Wednesday, September 6th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $237.00 target price on shares of FedEx Corporation in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $228.56.

In other news, EVP Donald F. Colleran sold 10,000 shares of FedEx Corporation stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kim Jabal sold 3,980 shares of FedEx Corporation stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total transaction of $897,689.00. Following the sale, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,094 shares of company stock valued at $9,024,637. Insiders own 8.45% of the company’s stock.

FedEx Corporation 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.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX).

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

Receive News & Ratings for FedEx Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.