Covenant Asset Management LLC bought a new position in FedEx Corporation (NYSE:FDX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,540 shares of the shipping service provider’s stock, valued at approximately $1,475,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Krilogy Financial LLC raised its stake in shares of FedEx Corporation by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares during the last quarter. Cribstone Capital Management LLC raised its stake in shares of FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after purchasing an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of FedEx Corporation by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after purchasing an additional 9 shares during the last quarter. Park National Corp OH raised its stake in shares of FedEx Corporation by 0.9% in the second quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock worth $256,000 after purchasing an additional 10 shares during the last quarter. Finally, Alexandria Capital LLC raised its stake in shares of FedEx Corporation by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after purchasing an additional 13 shares during the last quarter. 76.22% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently weighed in on FDX. Stifel Nicolaus restated a “neutral” rating on shares of FedEx Corporation in a research note on Wednesday, August 16th. Wells Fargo & Company boosted their price target on FedEx Corporation from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Loop Capital restated a “buy” rating and issued a $260.00 price target (up previously from $250.00) on shares of FedEx Corporation in a research note on Wednesday, September 20th. Cowen and Company restated a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a research note on Thursday, August 10th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on FedEx Corporation in a research note on Monday, November 13th. They issued a “buy” rating and a $270.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the stock. FedEx Corporation presently has a consensus rating of “Buy” and a consensus target price of $230.21.

In related news, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was 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 $6,709,780. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Henry J. Maier sold 11,150 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now directly owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is owned by corporate insiders.

FedEx Corporation (FDX) opened at $216.00 on Friday. FedEx Corporation has a one year low of $182.89 and a one year high of $231.35. The company has a market capitalization of $57,919.97, a P/E ratio of 18.14, a P/E/G ratio of 1.36 and a beta of 1.37. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.93%. FedEx Corporation’s payout ratio is presently 18.87%.

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FedEx Corporation 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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