NGAM Advisors L.P. lowered its stake in shares of FedEx Corporation (NYSE:FDX) by 2.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 134,643 shares of the shipping service provider’s stock after selling 3,844 shares during the period. NGAM Advisors L.P. owned about 0.05% of FedEx Corporation worth $29,262,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FDX. FNY Managed Accounts LLC purchased 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, Brick & Kyle Associates raised its stake in shares of FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 75.86% of the company’s stock.

Shares of FedEx Corporation (NYSE:FDX) opened at 215.05 on Friday. The company has a 50-day moving average price of $209.73 and a 200 day moving average price of $200.67. The company has a market capitalization of $57.69 billion, a P/E ratio of 19.43 and a beta of 1.28. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99.

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, topping the Zacks’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. During the same period last year, the business posted $3.30 earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities research analysts anticipate that FedEx Corporation will post $13.56 EPS for the current year.

The company 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, September 8th. FedEx Corporation’s dividend payout ratio is currently 18.08%.

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FDX has been the topic of a number of recent research reports. ValuEngine raised FedEx Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 target price on the stock in a research report on Friday, June 2nd. Vetr raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 target price on the stock in a research report on Wednesday, May 17th. UBS AG reissued a “buy” rating and issued a $235.00 target price (up previously from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Finally, Deutsche Bank AG set a $235.00 target price on FedEx Corporation and gave the company a “buy” rating in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $221.72.

In other FedEx Corporation news, Director Kim Jabal sold 609 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $216.13, for a total value of $131,623.17. Following the completion of the sale, the director now directly owns 2,100 shares of the company’s stock, valued at $453,873. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Edwardson sold 2,208 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the sale, the director now directly owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The disclosure for this sale can be found here. Insiders sold 77,757 shares of company stock valued at $16,447,426 over the last three months. Company 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.

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

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