Stralem & Co. Inc. cut its stake in shares of FedEx Corporation (NYSE:FDX) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,085 shares of the shipping service provider’s stock after selling 3,750 shares during the period. FedEx Corporation makes up 3.4% of Stralem & Co. Inc.’s portfolio, making the stock its 3rd largest position. Stralem & Co. Inc.’s holdings in FedEx Corporation were worth $28,923,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. Riggs Asset Managment Co. Inc. raised its stake in shares of FedEx Corporation by 163.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock worth $105,000 after buying an additional 300 shares during the period. Cribstone Capital Management LLC raised its stake in shares of FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after buying an additional 6 shares during the period. FNY Managed Accounts LLC bought a new stake in shares of FedEx Corporation during the first quarter worth about $100,000. Alexandria Capital LLC raised 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 during the period. Finally, Pinnacle Bank bought a new stake in shares of FedEx Corporation during the first quarter worth about $122,000. Institutional investors and hedge funds own 76.36% of the company’s stock.

FedEx Corporation (FDX) traded down 0.45% on Monday, reaching $208.37. The company’s stock had a trading volume of 988,450 shares. The company has a market cap of $55.90 billion, a P/E ratio of 18.82 and a beta of 1.27. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99. The stock’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, beating the Zacks’ consensus estimate of $3.88 by $0.37. The business had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 earnings per share. Equities research analysts forecast that FedEx Corporation will post $13.60 earnings per share for the current year.

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A number of equities research analysts have recently issued reports on FDX shares. Bank of America Corporation reaffirmed a “buy” rating and set a $240.00 target price (up from $230.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Cowen and Company reissued an “outperform” rating and set a $240.00 price target on shares of FedEx Corporation in a research report on Wednesday, June 21st. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 price target on the stock in a research report on Friday, June 2nd. Loop Capital reissued a “buy” rating and set a $234.00 price target on shares of FedEx Corporation in a research report on Tuesday, July 4th. Finally, UBS AG reissued a “buy” rating and set a $235.00 price target (up from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $221.78.

In other FedEx Corporation news, CEO David L. Cunningham, Jr. sold 17,565 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were 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 owns 29,148 shares of the company’s stock, valued at $6,150,228. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kim Jabal sold 609 shares of the company’s 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 sale, the director now directly owns 2,100 shares in the company, valued at approximately $453,873. The disclosure for this sale can be found here. Insiders have sold 77,757 shares of company stock worth $16,447,426 in the last ninety days. 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.

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

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