Investment House LLC increased its stake in shares of FedEx Corporation (NYSE:FDX) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,457 shares of the shipping service provider’s stock after buying an additional 705 shares during the period. FedEx Corporation comprises about 1.6% of Investment House LLC’s holdings, making the stock its 14th largest position. Investment House LLC’s holdings in FedEx Corporation were worth $12,270,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in FDX. Banced Corp increased its stake in shares of FedEx Corporation by 7.9% in the first quarter. Banced Corp now owns 2,574 shares of the shipping service provider’s stock valued at $502,000 after buying an additional 189 shares during the last quarter. TNB Financial bought a new stake in shares of FedEx Corporation during the first quarter valued at $3,887,000. Bremer Trust National Association increased its stake in shares of FedEx Corporation by 64.0% in the first quarter. Bremer Trust National Association now owns 5,372 shares of the shipping service provider’s stock valued at $1,048,000 after buying an additional 2,096 shares during the last quarter. Adirondack Trust Co. increased its stake in shares of FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares during the last quarter. Finally, Spirit of America Management Corp NY increased its stake in shares of FedEx Corporation by 22.0% in the first quarter. Spirit of America Management Corp NY now owns 3,050 shares of the shipping service provider’s stock valued at $595,000 after buying an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 76.36% of the company’s stock.

FedEx Corporation (NYSE FDX) traded down 0.78% on Thursday, reaching $204.57. The company’s stock had a trading volume of 419,055 shares. The company has a market capitalization of $54.88 billion, a price-to-earnings ratio of 18.48 and a beta of 1.27. The firm’s 50 day moving average price is $213.26 and its 200-day moving average price is $198.44. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99.

FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, topping the Zacks’ 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 company 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 posted $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 earnings per share for the current year.

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Several analysts have weighed in on the company. Cowen and Company reiterated a “buy” rating and issued a $240.00 price objective on shares of FedEx Corporation in a research report on Tuesday, July 11th. Loop Capital reiterated a “buy” rating and issued a $234.00 price objective on shares of FedEx Corporation in a research report on Tuesday, July 4th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $220.00 price objective on shares of FedEx Corporation in a research report on Monday, July 3rd. Vetr downgraded FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 price objective for the company. in a research report on Monday, June 26th. Finally, BMO Capital Markets boosted their price objective on FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, June 23rd. Six research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. FedEx Corporation has a consensus rating of “Buy” and an average price target of $221.78.

In other FedEx Corporation news, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the completion of the sale, the chief executive officer now owns 29,148 shares of the company’s stock, valued at approximately $6,150,228. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kim Jabal sold 609 shares of FedEx Corporation stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $216.13, for a total value of $131,623.17. Following the sale, the director now directly owns 2,100 shares of the company’s stock, valued at approximately $453,873. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is currently owned by insiders.

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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