Independent Investors Inc. held its stake in shares of FedEx Corporation (NYSE:FDX) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,000 shares of the shipping service provider’s stock at the end of the first quarter. Independent Investors Inc.’s holdings in FedEx Corporation were worth $1,561,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in FDX. Cornerstone Financial Partners LLC raised 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 during the last quarter. Beese Fulmer Investment Management Inc. raised 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 during the last quarter. Guardian Life Insurance Co. of America raised 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 during the last quarter. Adirondack Trust Co. raised 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 worth $129,000 after buying an additional 10 shares during the last quarter. Finally, Brick & Kyle Associates raised 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 during the last quarter. 76.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FedEx Corporation (NYSE FDX) traded down 0.62% during trading on Monday, hitting $208.02. 57,101 shares of the company were exchanged. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99. The firm has a market capitalization of $55.80 billion, a PE ratio of 18.79 and a beta of 1.27. The firm’s 50-day moving average price is $213.53 and its 200 day moving average price is $197.66.

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 consensus estimate of $3.88 by $0.37. The company had revenue of $15.70 billion during 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%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.30 EPS. On average, equities research analysts expect that FedEx Corporation will post $13.60 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This story was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://www.thecerbatgem.com/2017/08/07/fedex-corporation-fdx-position-maintained-by-independent-investors-inc.html.

A number of brokerages have recently weighed in on FDX. Vetr raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 target price on the stock in a research note on Wednesday, May 17th. UBS AG reissued a “buy” rating and set a $235.00 price objective (up previously from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Stephens set a $246.00 price objective on shares of FedEx Corporation and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Seaport Global Securities assumed coverage on shares of FedEx Corporation in a research note on Tuesday, June 6th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research note on Tuesday, May 23rd. Six equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $221.78.

In other FedEx Corporation 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 sale, the director now owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation stock in a transaction on 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 sale, the chief executive officer now directly owns 29,148 shares in the company, valued at approximately $6,150,228. The disclosure for this sale can be found here. In the last three months, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is owned by insiders.

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.

Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

Receive News & Stock 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 stocks with our FREE daily email newsletter.