Minneapolis Portfolio Management Group LLC raised its holdings in shares of FedEx Corporation (NYSE:FDX) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,727 shares of the shipping service provider’s stock after purchasing an additional 1,610 shares during the quarter. FedEx Corporation accounts for about 5.1% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 6th largest position. Minneapolis Portfolio Management Group LLC owned about 0.05% of FedEx Corporation worth $31,454,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FNY Managed Accounts LLC purchased a new stake in shares of FedEx Corporation in the first quarter valued at $100,000. 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 valued at $105,000 after acquiring an additional 300 shares during the period. 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 valued at $107,000 after acquiring an additional 6 shares during the period. Alexandria Capital LLC raised its stake in shares of FedEx Corporation by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares during the period. Finally, Hefty Wealth Partners raised its stake in shares of FedEx Corporation by 26.0% in the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 75.89% of the company’s stock.

Shares of FedEx Corporation (NYSE FDX) opened at 221.32 on Thursday. The company has a market capitalization of $59.35 billion, a PE ratio of 20.87 and a beta of 1.31. FedEx Corporation has a 12-month low of $168.00 and a 12-month high of $227.00. The stock has a 50 day moving average of $214.66 and a 200-day moving average of $204.57.

FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter in the previous year, the company posted $2.90 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts predict that FedEx Corporation will post $12.47 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.90%. FedEx Corporation’s payout ratio is 18.87%.

In related news, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares in the company, valued at $12,059,712.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president now owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. Insiders have sold 27,172 shares of company stock worth $6,039,193 over the last 90 days. Insiders own 8.45% of the company’s stock.

Several brokerages have recently weighed in on FDX. Stifel Nicolaus reissued a “hold” rating and issued a $221.00 target price (up previously from $216.00) on shares of FedEx Corporation in a research note on Wednesday, September 20th. Bank of America Corporation reissued a “buy” rating and issued a $240.00 target price on shares of FedEx Corporation in a research note on Wednesday, September 20th. Wells Fargo & Company increased their target price on shares of FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, September 21st. Zacks Investment Research raised shares of FedEx Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Cowen and Company reissued a “buy” rating and issued a $240.00 target price on shares of FedEx Corporation in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $225.41.

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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.

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

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