McQueen Ball & Associates Inc. reduced its position in shares of FedEx Corporation (NYSE:FDX) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,784 shares of the shipping service provider’s stock after selling 75 shares during the period. FedEx Corporation accounts for approximately 1.4% of McQueen Ball & Associates Inc.’s investment portfolio, making the stock its 22nd largest position. McQueen Ball & Associates Inc.’s holdings in FedEx Corporation were worth $2,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FDX. Mathes Company Inc. boosted its position in shares of FedEx Corporation by 1.3% in the first quarter. Mathes Company Inc. now owns 15,800 shares of the shipping service provider’s stock worth $3,083,000 after buying an additional 200 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of FedEx Corporation by 3.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,758 shares of the shipping service provider’s stock worth $1,233,000 after buying an additional 228 shares in the last quarter. Country Trust Bank boosted its position in shares of FedEx Corporation by 18.8% in the first quarter. Country Trust Bank now owns 218,280 shares of the shipping service provider’s stock worth $42,597,000 after buying an additional 34,536 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of FedEx Corporation by 1.8% in the first quarter. Nationwide Fund Advisors now owns 83,049 shares of the shipping service provider’s stock worth $16,207,000 after buying an additional 1,470 shares in the last quarter. Finally, CAPROCK Group Inc. boosted its position in shares of FedEx Corporation by 1.6% in the first quarter. CAPROCK Group Inc. now owns 7,456 shares of the shipping service provider’s stock worth $1,455,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 75.86% of the company’s stock.

FedEx Corporation (FDX) traded up 0.56% during trading on Monday, hitting $208.93. The stock had a trading volume of 142,208 shares. FedEx Corporation has a 12-month low of $158.20 and a 12-month high of $219.99. The company has a 50 day moving average of $210.51 and a 200-day moving average of $199.85. The company has a market cap of $56.05 billion, a P/E ratio of 18.87 and a beta of 1.27.

FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. The business 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%. FedEx Corporation’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.30 earnings per share. On average, equities analysts predict that FedEx Corporation will post $13.56 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, September 8th. FedEx Corporation’s dividend payout ratio is currently 18.08%.

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A number of brokerages have recently weighed in on FDX. Cowen and Company restated a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a research report on Tuesday, July 11th. Loop Capital restated a “buy” rating and issued a $234.00 price target on shares of FedEx Corporation in a research report on Tuesday, July 4th. Sanford C. Bernstein restated a “market perform” rating and issued a $220.00 price target on shares of FedEx Corporation in a research report on Monday, July 3rd. Vetr cut FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 price target for the company. in a research report on Monday, June 26th. Finally, BMO Capital Markets raised their price target on FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $221.78.

In related news, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the sale, the director now owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert B. Carter sold 24,522 shares of FedEx Corporation stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total value of $5,173,161.12. Following the completion of the sale, the executive vice president now directly owns 68,556 shares in the company, valued at approximately $14,462,573.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,757 shares of company stock worth $16,447,426. 8.45% of the stock is owned by company insiders.

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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