Abner Herrman & Brock LLC grew its holdings in FedEx Corporation (NYSE:FDX) by 46.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 49,243 shares of the shipping service provider’s stock after acquiring an additional 15,684 shares during the quarter. FedEx Corporation comprises 2.0% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 15th biggest holding. Abner Herrman & Brock LLC’s holdings in FedEx Corporation were worth $10,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 acquiring an additional 918,896 shares during the last quarter. BlackRock Inc. increased its holdings 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 acquiring an additional 14,086,601 shares during the last quarter. Jennison Associates LLC increased its holdings 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 acquiring an additional 175,777 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 acquiring an additional 173,544 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings 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 acquiring an additional 312,272 shares during the last quarter. Institutional investors and hedge funds own 75.86% of the company’s stock.

FedEx Corporation (FDX) traded up 0.73% during mid-day trading on Monday, hitting $212.02. The stock had a trading volume of 564,331 shares. FedEx Corporation has a 12-month low of $158.20 and a 12-month high of $219.99. The stock has a market cap of $56.88 billion, a price-to-earnings ratio of 19.15 and a beta of 1.28. The company has a 50-day moving average of $209.32 and a 200-day moving average of $201.31.

FedEx Corporation (NYSE:FDX) last announced its 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 period in the previous year, the business earned $3.30 EPS. The company’s revenue was up 21.0% on a year-over-year basis. On average, analysts anticipate that FedEx Corporation will post $13.53 earnings per share for the current fiscal 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, September 8th. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.08%.

In other FedEx Corporation news, VP John L. Merino sold 7,200 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total transaction of $1,521,072.00. Following the sale, the vice president now directly owns 33,908 shares of the company’s stock, valued at approximately $7,163,404.08. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $216.05, for a total transaction of $1,278,583.90. Following the sale, the director now directly owns 3,610 shares in the company, valued at $779,940.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,757 shares of company stock worth $16,447,426. Company insiders own 8.45% of the company’s stock.

FDX has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Tuesday, May 23rd. Vetr upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective on the stock in a report on Wednesday, May 17th. ValuEngine upgraded FedEx Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. UBS AG reiterated a “buy” rating and issued a $235.00 price objective (up previously from $215.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Finally, Deutsche Bank AG set a $235.00 price objective on FedEx Corporation and gave the company a “buy” rating in a report on Wednesday, June 21st. Two investment 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 company’s stock. The stock presently has an average rating of “Buy” and an average price target of $221.72.

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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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