Patten Group Inc. raised its stake in shares of FedEx Corporation (NYSE:FDX) by 700.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 760 shares of the shipping service provider’s stock after buying an additional 665 shares during the period. Patten Group Inc.’s holdings in FedEx Corporation were worth $149,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in FDX. FNY Managed Accounts LLC acquired a new position in shares of FedEx Corporation during the first quarter valued at $100,000. Alexandria Capital LLC raised its position in shares of FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after buying an additional 11 shares in the last quarter. Pinnacle Bank acquired a new position in shares of FedEx Corporation during the first quarter valued at $122,000. Brick & Kyle Associates raised its position in shares of FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares in the last quarter. Finally, Guardian Life Insurance Co. of America raised its position in shares of 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 valued at $184,000 after buying an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Shares of FedEx Corporation (FDX) traded up 0.68% during mid-day trading on Wednesday, reaching $210.49. The company’s stock had a trading volume of 223,391 shares. The company has a market capitalization of $56.47 billion, a price-to-earnings ratio of 19.01 and a beta of 1.27. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99. The firm’s 50 day moving average price is $212.43 and its 200-day moving average price is $198.92.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.37. The company had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. FedEx Corporation’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the business earned $3.30 EPS. On average, analysts predict that FedEx Corporation will post $13.58 EPS for the current year.

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Several equities analysts recently weighed in on FDX shares. ValuEngine upgraded FedEx Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 price target for the company in a research note on Friday, June 2nd. Vetr upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price target for the company in a research note on Wednesday, May 17th. UBS AG restated a “buy” rating and issued a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Finally, Deutsche Bank AG set a $235.00 price target on FedEx Corporation and gave the company a “buy” rating in a research note 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. The company presently has a consensus rating of “Buy” and a consensus target price of $221.78.

In related news, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $208.14, for a total transaction of $459,573.12. Following the transaction, the director now owns 30,608 shares in the company, valued at approximately $6,370,749.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kim Jabal sold 609 shares of FedEx Corporation stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $216.13, for a total transaction of $131,623.17. Following the transaction, the director now owns 2,100 shares in the company, valued at approximately $453,873. The disclosure for this sale can be found here. Insiders have 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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