Teachers Retirement System of The State of Kentucky raised its position in FedEx Corporation (NYSE:FDX) by 41.2% during the first quarter, Holdings Channel reports. The institutional investor owned 81,933 shares of the shipping service provider’s stock after buying an additional 23,900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in FedEx Corporation were worth $15,990,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Cornerstone Financial Partners LLC boosted its stake in shares of FedEx Corporation by 0.3% in the first quarter. Cornerstone Financial Partners LLC now owns 2,118 shares of the shipping service provider’s stock worth $413,000 after buying an additional 7 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in shares of FedEx Corporation by 0.6% in the first quarter. Beese Fulmer Investment Management Inc. now owns 1,327 shares of the shipping service provider’s stock worth $259,000 after buying an additional 8 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake 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 worth $184,000 after buying an additional 9 shares in the last quarter. Brick & Kyle Associates boosted its stake 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 worth $132,000 after buying an additional 10 shares in the last quarter. Finally, Alexandria Capital LLC boosted its stake 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 worth $103,000 after buying an additional 11 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 1.03% during midday trading on Monday, hitting $206.98. 218,452 shares of the stock were exchanged. The stock has a market cap of $55.52 billion, a P/E ratio of 18.70 and a beta of 1.27. The stock’s 50-day moving average price is $212.82 and its 200 day moving average price is $198.62. FedEx Corporation has a one year low of $158.20 and a one year high of $219.99.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.30 EPS. On average, analysts anticipate that FedEx Corporation will post $13.58 earnings per share for the current year.

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FDX has been the subject of several recent analyst reports. Vetr upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 target price for the company in a research note on Wednesday, May 17th. UBS AG restated a “buy” rating and issued a $235.00 target price (up previously from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Stephens set a $246.00 target price on shares of FedEx Corporation and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Zacks Investment Research upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Tuesday, May 23rd. Finally, Seaport Global Securities initiated coverage on shares of FedEx Corporation in a research note on Tuesday, June 6th. They issued a “neutral” rating for the company. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $221.78.

In other FedEx Corporation news, EVP Robert B. Carter sold 24,522 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $210.96, for a total transaction of $5,173,161.12. Following the sale, the executive vice president now owns 68,556 shares in the company, valued at approximately $14,462,573.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP John L. Merino sold 7,200 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total value of $1,521,072.00. Following the sale, the vice president now 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 90 days, insiders have sold 77,757 shares of company stock worth $16,447,426. Corporate insiders own 8.67% of the company’s stock.

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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