Nomura Asset Management Co. Ltd. increased its position in shares of FedEx Corporation (NYSE:FDX) by 501.6% during the first quarter, Holdings Channel reports. The institutional investor owned 194,561 shares of the shipping service provider’s stock after buying an additional 162,221 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in FedEx Corporation were worth $37,969,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Macquarie Group Ltd. increased its position in FedEx Corporation by 3.2% in the fourth quarter. Macquarie Group Ltd. now owns 35,090 shares of the shipping service provider’s stock valued at $6,534,000 after buying an additional 1,090 shares during the last quarter. AMI Asset Management Corp increased its position in FedEx Corporation by 42.3% in the first quarter. AMI Asset Management Corp now owns 157,715 shares of the shipping service provider’s stock valued at $30,778,000 after buying an additional 46,911 shares during the last quarter. Atria Investments LLC increased its position in FedEx Corporation by 37.0% in the first quarter. Atria Investments LLC now owns 2,738 shares of the shipping service provider’s stock valued at $534,000 after buying an additional 740 shares during the last quarter. Integrated Wealth Management increased its position in FedEx Corporation by 4.7% in the first quarter. Integrated Wealth Management now owns 4,539 shares of the shipping service provider’s stock valued at $886,000 after buying an additional 204 shares during the last quarter. Finally, Cornerstone Financial Partners LLC increased its position in 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 valued at $413,000 after buying an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.

FedEx Corporation (NYSE FDX) traded down 1.02% during trading on Thursday, reaching $207.49. 213,708 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $212.29 and its 200-day moving average is $198.99. FedEx Corporation has a 12-month low of $158.20 and a 12-month high of $219.99. The company has a market cap of $55.66 billion, a P/E ratio of 18.74 and a beta of 1.27.

FedEx Corporation (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.37. The firm 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 company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.30 earnings per share. Analysts predict that FedEx Corporation will post $13.58 EPS for the current fiscal year.

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Several equities analysts have recently issued reports on FDX shares. Stifel Nicolaus raised their price target on shares of FedEx Corporation from $194.00 to $216.00 and gave the company a “hold” rating in a research note on Monday, June 12th. Vetr downgraded shares of FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 target price for the company. in a research note on Monday, June 26th. BidaskClub downgraded shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. lifted their target price on shares of FedEx Corporation from $218.00 to $229.00 and gave the stock an “outperform” rating in a research note on Thursday, June 15th. Finally, Zacks Investment Research downgraded shares of FedEx Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Six investment 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 price target of $221.78.

In other news, EVP Robert B. Carter sold 24,522 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 22nd. The shares were 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 $14,462,573.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation stock in a transaction that occurred 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 in the company, valued at approximately $6,150,228. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,757 shares of company stock worth $16,447,426. Company 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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