Miles Capital Inc. boosted its stake in shares of FedEx Corporation (NYSE:FDX) by 4.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,779 shares of the shipping service provider’s stock after buying an additional 323 shares during the period. FedEx Corporation accounts for 0.8% of Miles Capital Inc.’s portfolio, making the stock its 13th largest position. Miles Capital Inc.’s holdings in FedEx Corporation were worth $1,518,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FDX. Pinnacle Bank bought a new stake in shares of FedEx Corporation during the first quarter valued at about $122,000. Regent Investment Management LLC boosted its stake in shares of FedEx Corporation by 105.3% in the first quarter. Regent Investment Management LLC now owns 13,785 shares of the shipping service provider’s stock valued at $2,690,000 after buying an additional 7,070 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of FedEx Corporation during the first quarter valued at about $818,000. Howe & Rusling Inc. boosted its stake in shares of FedEx Corporation by 11,721.7% in the first quarter. Howe & Rusling Inc. now owns 16,905 shares of the shipping service provider’s stock valued at $3,299,000 after buying an additional 16,762 shares in the last quarter. Finally, 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 valued at $259,000 after buying an additional 8 shares in the last quarter. 76.00% of the stock is owned by institutional investors.

Shares of FedEx Corporation (NYSE:FDX) traded down 0.05% during mid-day trading on Monday, reaching $205.89. 284,420 shares of the company’s stock were exchanged. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99. The stock has a market capitalization of $55.23 billion, a PE ratio of 18.60 and a beta of 1.27. The company’s 50 day moving average is $211.69 and its 200 day moving average is $199.13.

FedEx Corporation (NYSE:FDX) last issued its 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 for 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 business’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. Equities research analysts anticipate that FedEx Corporation will post $13.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.97%. FedEx Corporation’s payout ratio is currently 18.08%.

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FDX has been the topic of several research reports. Bank of America Corporation restated a “buy” rating and issued a $240.00 target price (up previously from $230.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Cowen and Company restated an “outperform” rating and issued a $240.00 target price on shares of FedEx Corporation in a report on Wednesday, June 21st. Zacks Investment Research upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 target price on the stock in a report on Friday, June 2nd. Loop Capital restated a “buy” rating and issued a $234.00 target price on shares of FedEx Corporation in a report on Tuesday, July 4th. Finally, 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 report on Wednesday, June 21st. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $221.78.

In other FedEx Corporation news, EVP Rajesh Subramaniam sold 7,155 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $215.47, for a total transaction of $1,541,687.85. Following the sale, the executive vice president now directly owns 21,566 shares in the company, valued at approximately $4,646,826.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kim Jabal sold 5,918 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $216.05, for a total transaction of $1,278,583.90. Following the sale, the director now owns 3,610 shares in the company, valued at $779,940.50. The disclosure for this sale can be found here. Insiders have sold a total of 77,757 shares of company stock worth $16,447,426 over the last 90 days. Insiders own 8.45% of the company’s stock.

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)

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