SpiderRock Advisors LLC lowered its stake in shares of FedEx Corporation (NYSE:FDX) by 92.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 713 shares of the shipping service provider’s stock after selling 8,195 shares during the period. SpiderRock Advisors LLC’s holdings in FedEx Corporation were worth $160,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Concert Wealth Management Inc. increased its position in shares of FedEx Corporation by 6.1% in the first quarter. Concert Wealth Management Inc. now owns 4,667 shares of the shipping service provider’s stock worth $870,000 after acquiring an additional 269 shares in the last quarter. Cibc World Markets Corp increased its position in shares of FedEx Corporation by 52.2% in the first quarter. Cibc World Markets Corp now owns 25,587 shares of the shipping service provider’s stock worth $4,993,000 after acquiring an additional 8,777 shares in the last quarter. WFG Advisors LP increased its position in shares of FedEx Corporation by 4.4% in the first quarter. WFG Advisors LP now owns 5,266 shares of the shipping service provider’s stock worth $1,028,000 after acquiring an additional 224 shares in the last quarter. Tredje AP fonden increased its position in shares of FedEx Corporation by 49.7% in the first quarter. Tredje AP fonden now owns 25,750 shares of the shipping service provider’s stock worth $5,035,000 after acquiring an additional 8,550 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of FedEx Corporation by 86.7% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 5,357 shares of the shipping service provider’s stock worth $1,045,000 after acquiring an additional 2,488 shares in the last quarter. 76.22% of the stock is currently owned by institutional investors.

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In related news, Director Kim Jabal sold 3,980 shares of FedEx Corporation stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the sale, the director now directly owns 6,080 shares in the company, valued at approximately $1,371,344. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of FedEx Corporation stock in a transaction dated 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 owns 53,397 shares in the company, valued at $12,059,712.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,094 shares of company stock worth $9,024,637. 8.45% of the stock is currently owned by insiders.

FedEx Corporation (NYSE FDX) opened at $217.91 on Friday. The stock has a market cap of $57,504.27, a PE ratio of 18.01, a PEG ratio of 1.35 and a beta of 1.37. FedEx Corporation has a 52-week low of $182.89 and a 52-week high of $231.35. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57.

FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share 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 company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.90 earnings per share. research analysts anticipate that FedEx Corporation will post 12.47 earnings per share for the current year.

Several research firms have recently issued reports on FDX. Cowen and Company reissued an “outperform” rating and issued a $240.00 price objective on shares of FedEx Corporation in a research report on Friday, October 13th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $236.00 price objective on shares of FedEx Corporation in a research report on Friday, October 20th. J P Morgan Chase & Co increased their price objective on shares of FedEx Corporation from $237.00 to $264.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Zacks Investment Research lowered shares of FedEx Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $247.00 price target (up from $240.00) on shares of FedEx Corporation in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $230.21.

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.

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

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