Cubist Systematic Strategies LLC trimmed its holdings in shares of FedEx Corporation (NYSE:FDX) by 73.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,180 shares of the shipping service provider’s stock after selling 11,502 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in FedEx Corporation were worth $908,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FDX. FNY Managed Accounts LLC acquired a new position in shares of FedEx Corporation during the 1st quarter worth approximately $100,000. Salem Investment Counselors Inc. raised its stake in shares of FedEx Corporation by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after buying an additional 13 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in shares of FedEx Corporation by 163.0% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock worth $105,000 after buying an additional 300 shares during the period. Cribstone Capital Management LLC raised its stake in shares of FedEx Corporation by 1.2% during the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after buying an additional 6 shares during the period. Finally, Alexandria Capital LLC raised its stake in shares of FedEx Corporation by 2.5% during the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after buying an additional 13 shares during the period. 76.27% of the stock is owned by institutional investors and hedge funds.

In other news, Director Kim Jabal sold 3,980 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total transaction of $897,689.00. Following the sale, the director now owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares in the company, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. Insiders sold a total of 40,094 shares of company stock worth $9,024,637 in the last ninety days. 8.45% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on FDX shares. Wells Fargo & Company upped their target price on FedEx Corporation from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Credit Suisse Group reaffirmed an “outperform” rating and set a $233.00 target price (down from $242.00) on shares of FedEx Corporation in a research note on Friday, September 15th. Bank of America Corporation reaffirmed a “buy” rating and set a $247.00 target price (up from $240.00) on shares of FedEx Corporation in a research note on Friday, October 6th. Cowen and Company reiterated a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $229.00 price target on shares of FedEx Corporation in a research report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. FedEx Corporation presently has an average rating of “Buy” and a consensus price target of $228.56.

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Shares of FedEx Corporation (NYSE:FDX) opened at $221.16 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. The stock has a market capitalization of $59,247.23, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.39 and a beta of 1.37. FedEx Corporation has a 12-month low of $176.44 and a 12-month high of $231.35.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. FedEx Corporation’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.90 EPS. equities research analysts expect that FedEx Corporation will post 12.48 earnings per share for the current fiscal year.

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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