Westpac Banking Corp maintained its stake in shares of FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,584 shares of the shipping service provider’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in FedEx Corporation were worth $3,822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Ray Gerald L & Associates Ltd. grew its position in shares of FedEx Corporation by 3.9% in the first quarter. Ray Gerald L & Associates Ltd. now owns 20,239 shares of the shipping service provider’s stock valued at $3,950,000 after purchasing an additional 765 shares in the last quarter. Comerica Bank boosted its stake in FedEx Corporation by 1.7% during the first quarter. Comerica Bank now owns 68,702 shares of the shipping service provider’s stock valued at $13,171,000 after buying an additional 1,142 shares during the period. Trust Co. of Vermont boosted its stake in FedEx Corporation by 7.0% during the first quarter. Trust Co. of Vermont now owns 14,706 shares of the shipping service provider’s stock valued at $2,869,000 after buying an additional 962 shares during the period. Xact Kapitalforvaltning AB boosted its stake in FedEx Corporation by 3.8% during the first quarter. Xact Kapitalforvaltning AB now owns 34,920 shares of the shipping service provider’s stock valued at $6,815,000 after buying an additional 1,268 shares during the period. Finally, Pictet Asset Management Ltd. boosted its stake in FedEx Corporation by 1.5% during the first quarter. Pictet Asset Management Ltd. now owns 132,869 shares of the shipping service provider’s stock valued at $25,929,000 after buying an additional 1,900 shares during the period. Institutional investors own 75.89% of the company’s stock.

In related news, Director John A. Edwardson sold 2,208 shares of the stock in a transaction dated 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 transaction, the director now owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The disclosure for this sale can be found here. Insiders have sold a total of 27,172 shares of company stock valued at $6,039,193 in the last three months. Insiders own 8.45% of the company’s stock.

FDX has been the subject of several research analyst reports. Bank of America Corporation reissued 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. Deutsche Bank AG set a $235.00 price objective on FedEx Corporation and gave the company a “buy” rating in a research note on Wednesday, June 21st. UBS AG reissued a “buy” rating and set a $235.00 price objective (up previously from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Loop Capital reissued a “buy” rating and set a $234.00 price objective on shares of FedEx Corporation in a research note on Tuesday, July 4th. Finally, Cowen and Company reissued a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $227.14.

Shares of FedEx Corporation (NYSE FDX) opened at 220.78 on Wednesday. The firm’s 50-day moving average price is $216.27 and its 200 day moving average price is $205.52. FedEx Corporation has a 52 week low of $168.00 and a 52 week high of $227.00. The company has a market cap of $59.20 billion, a price-to-earnings ratio of 20.81 and a beta of 1.31.

FedEx Corporation (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The company had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.35 billion. During the same period last year, the company earned $2.90 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that FedEx Corporation will post $12.47 EPS for the current year.

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

WARNING: This news story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/11/westpac-banking-corp-has-3822000-stake-in-fedex-corporation-fdx.html.

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.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX).

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.