BTR Capital Management Inc. raised its holdings in FedEx Corporation (NYSE:FDX) by 23.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,504 shares of the shipping service provider’s stock after purchasing an additional 1,987 shares during the period. BTR Capital Management Inc.’s holdings in FedEx Corporation were worth $2,283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of FedEx Corporation by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock valued at $3,512,158,000 after purchasing an additional 918,896 shares in the last quarter. BlackRock Inc. raised its position in shares of FedEx Corporation by 1,912.1% in the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after purchasing an additional 14,086,601 shares in the last quarter. Jennison Associates LLC raised its position in shares of FedEx Corporation by 5.4% in the 1st quarter. Jennison Associates LLC now owns 3,429,971 shares of the shipping service provider’s stock valued at $669,359,000 after purchasing an additional 175,777 shares in the last quarter. Geode Capital Management LLC raised its position in shares of FedEx Corporation by 8.4% in the 1st quarter. Geode Capital Management LLC now owns 2,236,044 shares of the shipping service provider’s stock valued at $435,698,000 after purchasing an additional 173,544 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of FedEx Corporation by 28.8% in the 1st quarter. TIAA CREF Investment Management LLC now owns 1,396,492 shares of the shipping service provider’s stock valued at $272,525,000 after purchasing an additional 312,272 shares in the last quarter. 75.86% of the stock is currently owned by institutional investors.

FedEx Corporation (FDX) traded down 1.26% during midday trading on Friday, hitting $210.48. The stock had a trading volume of 1,600,975 shares. The firm has a market cap of $56.46 billion, a P/E ratio of 19.01 and a beta of 1.28. The stock has a 50-day moving average of $209.41 and a 200-day moving average of $201.21. FedEx Corporation has a 52 week low of $158.20 and a 52 week 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 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 for the quarter, compared to analyst estimates of $15.56 billion. During the same quarter in the prior year, the company posted $3.30 earnings per share. FedEx Corporation’s revenue was up 21.0% on a year-over-year basis. Analysts forecast 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. Investors of record on Monday, September 11th will be issued 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 yield of 0.95%. FedEx Corporation’s payout ratio is presently 18.08%.

ILLEGAL ACTIVITY NOTICE: “FedEx Corporation (FDX) Holdings Boosted by BTR Capital Management Inc.” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US & international copyright legislation. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/10/fedex-corporation-fdx-holdings-boosted-by-btr-capital-management-inc.html.

In related news, VP John L. Merino sold 7,200 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total transaction of $1,521,072.00. Following the sale, the vice president now owns 33,908 shares in the company, valued at $7,163,404.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the company’s 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 in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. Insiders have sold 77,757 shares of company stock worth $16,447,426 in the last quarter. 8.45% of the stock is currently owned by corporate insiders.

FDX has been the topic of a number of recent analyst reports. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Tuesday, May 23rd. Vetr raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price target on the stock in a research report on Wednesday, May 17th. ValuEngine raised FedEx Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. UBS AG reissued a “buy” rating and set a $235.00 price target (up from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Finally, Deutsche Bank AG set a $235.00 price target on FedEx Corporation and gave the company a “buy” rating in a research report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $221.72.

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)

Receive News & Stock Ratings for FedEx Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corporation and related stocks with our FREE daily email newsletter.