Ray Gerald L & Associates Ltd. maintained its stake in FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,239 shares of the shipping service provider’s stock at the end of the 2nd quarter. Ray Gerald L & Associates Ltd.’s holdings in FedEx Corporation were worth $4,399,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Archon Partners LLC raised its stake in shares of FedEx Corporation by 4.2% during the 2nd quarter. Archon Partners LLC now owns 25,000 shares of the shipping service provider’s stock worth $5,433,000 after purchasing an additional 1,000 shares in the last quarter. Evergreen Capital Management LLC raised its stake in shares of FedEx Corporation by 18.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 17,677 shares of the shipping service provider’s stock worth $3,842,000 after purchasing an additional 2,695 shares in the last quarter. Girard Partners LTD. raised its stake in shares of FedEx Corporation by 6.6% during the 2nd quarter. Girard Partners LTD. now owns 3,450 shares of the shipping service provider’s stock worth $750,000 after purchasing an additional 214 shares in the last quarter. Brighton Jones LLC bought a new stake in shares of FedEx Corporation during the 2nd quarter worth approximately $350,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of FedEx Corporation by 9.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,887 shares of the shipping service provider’s stock worth $2,801,000 after purchasing an additional 1,121 shares in the last quarter. Institutional investors own 75.89% of the company’s stock.

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A number of equities research analysts have recently issued reports on FDX shares. Bank of America Corporation reiterated a “buy” rating and set a $240.00 price objective (up previously from $230.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Wells Fargo & Company upped their price objective on FedEx Corporation from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Cowen and Company reiterated an “outperform” rating and set a $240.00 price objective on shares of FedEx Corporation in a research note on Wednesday, June 21st. Credit Suisse Group reiterated an “outperform” rating and set a $233.00 price objective (down previously from $242.00) on shares of FedEx Corporation in a research note on Friday, September 15th. Finally, Loop Capital reiterated a “buy” rating and set a $234.00 price objective on shares of FedEx Corporation in a research note on Tuesday, July 4th. One 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 currently has an average rating of “Buy” and a consensus target price of $225.71.

In other FedEx Corporation news, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the executive vice president now directly owns 30,499 shares in the company, valued at $6,709,780. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction on Monday, July 31st. The shares were 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 owns 30,608 shares in the company, valued at $6,370,749.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,172 shares of company stock worth $6,039,193. Corporate insiders own 8.45% of the company’s stock.

FedEx Corporation (NYSE:FDX) opened at 220.80 on Monday. The firm has a 50-day moving average price of $215.44 and a 200-day moving average price of $204.90. The firm has a market capitalization of $59.21 billion, a price-to-earnings ratio of 20.82 and a beta of 1.31. FedEx Corporation has a one year low of $168.00 and a one year high of $227.00.

FedEx Corporation (NYSE:FDX) last issued its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The firm had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.90 earnings per share. Analysts expect that FedEx Corporation will post $12.47 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. FedEx Corporation’s payout ratio is presently 18.87%.

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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