Commonwealth Bank of Australia raised its stake in FedEx Corporation (NYSE:FDX) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,749 shares of the shipping service provider’s stock after acquiring an additional 1,849 shares during the quarter. Commonwealth Bank of Australia’s holdings in FedEx Corporation were worth $7,116,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FDX. FNY Managed Accounts LLC bought a new position in FedEx Corporation in the 1st quarter valued at about $100,000. Riggs Asset Managment Co. Inc. raised its holdings in FedEx Corporation by 163.0% in the 2nd 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 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 valued at $107,000 after acquiring an additional 6 shares during the period. Alexandria Capital LLC raised its holdings in FedEx Corporation by 2.5% in the 2nd 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 holdings in FedEx Corporation by 26.0% in the 2nd 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. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on FDX shares. Bank of America Corporation reissued a “buy” rating and issued a $240.00 price target (up from $230.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Wells Fargo & Company increased their price target on shares of FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Cowen and Company reissued an “outperform” rating and issued a $240.00 price target on shares of FedEx Corporation in a report on Wednesday, June 21st. Credit Suisse Group reissued an “outperform” rating and issued a $233.00 price target (down from $242.00) on shares of FedEx Corporation in a report on Friday, September 15th. Finally, Loop Capital reissued a “buy” rating and issued a $234.00 price target on shares of FedEx Corporation in a report on Tuesday, July 4th. 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 company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $228.26.

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FedEx Corporation (NYSE:FDX) opened at 221.35 on Tuesday. The firm has a market cap of $59.35 billion, a price-to-earnings ratio of 20.87 and a beta of 1.31. FedEx Corporation has a one year low of $168.00 and a one year high of $227.00. The stock’s 50 day moving average is $217.90 and its 200-day moving average is $206.26.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same period last year, the company posted $2.90 EPS. FedEx Corporation’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts expect that FedEx Corporation will post $12.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were paid a $0.50 dividend. 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 dividend payout ratio (DPR) is 18.87%.

In other news, Director John A. Edwardson sold 2,208 shares of the company’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 of the company’s stock, valued at approximately $6,370,749.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. Insiders sold a total of 27,172 shares of company stock valued at $6,039,193 in the last ninety days. 8.45% of the stock is owned by corporate insiders.

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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