Nissay Asset Management Corp Japan ADV raised its holdings in shares of FedEx Co. (NYSE:FDX) by 2.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 29,944 shares of the shipping service provider’s stock after purchasing an additional 588 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in FedEx were worth $6,799,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. FormulaFolio Investments LLC boosted its stake in FedEx by 27.4% in the 2nd quarter. FormulaFolio Investments LLC now owns 6,201 shares of the shipping service provider’s stock worth $1,408,000 after purchasing an additional 1,335 shares during the period. Achmea Investment Management B.V. boosted its stake in FedEx by 24.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 4,356 shares of the shipping service provider’s stock worth $987,000 after purchasing an additional 853 shares during the period. Palladium Partners LLC boosted its stake in FedEx by 5.4% in the 2nd quarter. Palladium Partners LLC now owns 39,210 shares of the shipping service provider’s stock worth $8,904,000 after purchasing an additional 2,026 shares during the period. James Investment Research Inc. acquired a new position in FedEx in the 2nd quarter worth approximately $8,970,000. Finally, Ramsay Stattman Vela & Price Inc. boosted its stake in FedEx by 1.0% in the 2nd quarter. Ramsay Stattman Vela & Price Inc. now owns 33,939 shares of the shipping service provider’s stock worth $7,706,000 after purchasing an additional 325 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

A number of research firms recently commented on FDX. Morgan Stanley decreased their price objective on shares of FedEx from $248.00 to $245.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 20th. Credit Suisse Group raised their price objective on shares of FedEx from $306.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 20th. Oppenheimer raised their price objective on shares of FedEx from $282.00 to $288.00 and gave the stock an “outperform” rating in a research note on Thursday, June 14th. Citigroup raised their price objective on shares of FedEx from $274.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 16th. Finally, UBS Group lowered shares of FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price objective for the company. in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the stock. FedEx currently has an average rating of “Buy” and an average target price of $283.75.

Shares of NYSE:FDX opened at $246.94 on Friday. The firm has a market cap of $63.93 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 1.10 and a beta of 1.43. FedEx Co. has a 12-month low of $204.69 and a 12-month high of $274.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.39 and a quick ratio of 1.33.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 19th. The shipping service provider reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.19. The company had revenue of $17.31 billion during the quarter, compared to analyst estimates of $17.24 billion. FedEx had a net margin of 6.99% and a return on equity of 23.17%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $4.25 EPS. equities analysts forecast that FedEx Co. will post 17.31 EPS for the current fiscal year.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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