Precocity Capital LP boosted its position in shares of FedEx Corporation (NYSE:FDX) by 17.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,000 shares of the shipping service provider’s stock after buying an additional 15,000 shares during the period. FedEx Corporation makes up approximately 4.7% of Precocity Capital LP’s portfolio, making the stock its largest position. Precocity Capital LP’s holdings in FedEx Corporation were worth $19,515,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of FedEx Corporation by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after buying an additional 14,086,601 shares during the period. Vanguard Group Inc. increased its stake in shares of FedEx Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock valued at $3,512,158,000 after buying an additional 918,896 shares during the period. Pioneer Investment Management Inc. increased its stake in shares of FedEx Corporation by 1,611.5% in the first quarter. Pioneer Investment Management Inc. now owns 870,646 shares of the shipping service provider’s stock valued at $169,906,000 after buying an additional 819,777 shares during the period. Nordea Investment Management AB increased its stake in shares of FedEx Corporation by 360.6% in the first quarter. Nordea Investment Management AB now owns 935,838 shares of the shipping service provider’s stock valued at $182,629,000 after buying an additional 732,644 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of FedEx Corporation by 28.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,396,492 shares of the shipping service provider’s stock valued at $272,525,000 after buying an additional 312,272 shares during the period. 76.36% of the stock is owned by institutional investors and hedge funds.

FedEx Corporation (NYSE:FDX) traded down 0.487% during midday trading on Thursday, hitting $205.175. The stock had a trading volume of 131,493 shares. The firm has a 50 day moving average of $213.26 and a 200 day moving average of $198.44. FedEx Corporation has a 52 week low of $158.20 and a 52 week high of $219.99. The firm has a market cap of $55.04 billion, a price-to-earnings ratio of 18.534 and a beta of 1.27.

FedEx Corporation (NYSE:FDX) last posted its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $15.56 billion. During the same quarter in the prior year, the company earned $3.30 earnings per share. FedEx Corporation’s revenue was up 21.0% on a year-over-year basis. Equities research analysts predict that FedEx Corporation will post $13.58 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This news story was posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.watchlistnews.com/precocity-capital-lp-purchases-15000-shares-of-fedex-corporation-fdx/1470690.html.

FDX has been the subject of several recent analyst reports. Zacks Investment Research raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research report on Tuesday, May 23rd. Vetr raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective for the company in a research report on Wednesday, May 17th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $237.00 price objective on shares of FedEx Corporation in a research report on Wednesday, June 21st. Credit Suisse Group raised their price objective on shares of FedEx Corporation from $225.00 to $237.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 21st. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $240.00 price objective on shares of FedEx Corporation in a research report on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $221.78.

In other FedEx Corporation news, Director Kim Jabal sold 609 shares of the 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 transaction, the director now owns 2,100 shares of the company’s stock, valued at $453,873. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John L. Merino sold 7,200 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total value of $1,521,072.00. Following the completion of the transaction, the vice president now directly owns 33,908 shares in the company, valued at approximately $7,163,404.08. The disclosure for this sale can be found here. In the last three months, insiders sold 77,757 shares of company stock worth $16,447,426. 8.67% of the stock is owned by corporate 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.

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.