River Wealth Advisors LLC lessened its position in FedEx Corporation (NYSE:FDX) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,526 shares of the shipping service provider’s stock after selling 20 shares during the period. River Wealth Advisors LLC’s holdings in FedEx Corporation were worth $332,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Cribstone Capital Management LLC grew its holdings in FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after acquiring an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America grew its holdings in FedEx Corporation by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after acquiring an additional 9 shares during the last quarter. Brick & Kyle Associates grew its holdings in FedEx Corporation by 1.5% in the 1st quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after acquiring an additional 10 shares during the last quarter. Park National Corp OH grew its holdings in FedEx Corporation by 0.9% in the 2nd quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock worth $256,000 after acquiring an additional 10 shares during the last quarter. Finally, Argent Trust Co grew its holdings in FedEx Corporation by 0.3% in the 1st quarter. Argent Trust Co now owns 4,516 shares of the shipping service provider’s stock worth $882,000 after acquiring an additional 12 shares during the last quarter. 75.86% of the stock is currently owned by institutional investors and hedge funds.

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In related news, EVP Robert B. Carter sold 24,522 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 68,556 shares of the company’s stock, valued at approximately $14,462,573.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the completion of the transaction, the chief executive officer now directly owns 29,148 shares of the company’s stock, valued at $6,150,228. The disclosure for this sale can be found here. Insiders sold a total of 77,757 shares of company stock worth $16,447,426 over the last 90 days. Company insiders own 8.45% of the company’s stock.

FedEx Corporation (NYSE:FDX) opened at 215.54 on Wednesday. The firm has a 50-day moving average of $209.41 and a 200 day moving average of $201.46. FedEx Corporation has a one year low of $158.20 and a one year high of $219.99. The stock has a market capitalization of $57.82 billion, a PE ratio of 19.47 and a beta of 1.28.

FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The business had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. During the same period last year, the business earned $3.30 EPS. The company’s revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts anticipate that FedEx Corporation will post $13.53 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be issued 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 currently 18.08%.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of FedEx Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. BMO Capital Markets raised their price target on shares of FedEx Corporation from $220.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, June 23rd. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a report on Wednesday, August 16th. CIBC raised their price target on shares of FedEx Corporation from $218.00 to $229.00 and gave the stock an “outperform” rating in a report on Thursday, June 15th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $237.00 target price on shares of FedEx Corporation in a research note on Wednesday, June 21st. Two equities research 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. FedEx Corporation presently has a consensus rating of “Buy” and a consensus price target of $221.72.

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.

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

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