Capstone Asset Management Co. cut its position in shares of FedEx Corporation (NYSE:FDX) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,210 shares of the shipping service provider’s stock after selling 1,602 shares during the period. Capstone Asset Management Co.’s holdings in FedEx Corporation were worth $5,262,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of FedEx Corporation by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after buying an additional 14,086,601 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of FedEx Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after buying an additional 918,896 shares during the last quarter. Pioneer Investment Management Inc. raised its stake in shares of FedEx Corporation by 1,611.5% in the first quarter. Pioneer Investment Management Inc. now owns 870,646 shares of the shipping service provider’s stock worth $169,906,000 after buying an additional 819,777 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of FedEx Corporation by 360.6% in the first quarter. Nordea Investment Management AB now owns 935,838 shares of the shipping service provider’s stock worth $182,629,000 after buying an additional 732,644 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of FedEx Corporation by 1,881.6% in the first quarter. Macquarie Group Ltd. now owns 695,332 shares of the shipping service provider’s stock worth $135,694,000 after buying an additional 660,242 shares during the last quarter. Hedge funds and other institutional investors own 75.86% of the company’s stock.

FedEx Corporation (FDX) traded up 0.89% during mid-day trading on Friday, reaching $216.29. 330,964 shares of the company’s stock were exchanged. The stock has a market capitalization of $58.02 billion, a PE ratio of 19.54 and a beta of 1.27. The firm’s 50-day moving average is $209.81 and its 200 day moving average is $200.51. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results 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. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The company had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.56 billion. During the same quarter in the prior year, the firm earned $3.30 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. Analysts forecast that FedEx Corporation will post $13.56 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders 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 0.93%. The ex-dividend date is Friday, September 8th. FedEx Corporation’s dividend payout ratio is presently 18.08%.

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A number of brokerages recently commented on FDX. Zacks Investment Research raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Tuesday, May 23rd. Vetr raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective for the company in a research note on Wednesday, May 17th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $237.00 price objective on shares of FedEx Corporation in a research note on Wednesday, June 21st. Credit Suisse Group boosted their price objective on shares of FedEx Corporation from $225.00 to $237.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 21st. Finally, Cowen and Company reissued an “outperform” rating and issued a $240.00 price objective on shares of FedEx Corporation in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $221.72.

In other news, VP John L. Merino sold 7,200 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total value of $1,521,072.00. Following the completion of the transaction, the vice president now owns 33,908 shares of the company’s stock, valued at $7,163,404.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 24,522 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 68,556 shares of the company’s stock, valued at approximately $14,462,573.76. 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. Company insiders own 8.45% 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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