Greenhaven Associates Inc. reduced its stake in FedEx Corporation (NYSE:FDX) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,981,611 shares of the shipping service provider’s stock after selling 34,077 shares during the quarter. FedEx Corporation makes up approximately 10.1% of Greenhaven Associates Inc.’s investment portfolio, making the stock its 4th largest position. Greenhaven Associates Inc. owned about 1.11% of FedEx Corporation worth $672,592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of FDX. Salem Investment Counselors Inc. grew its holdings 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 purchasing an additional 13 shares during the period. Cribstone Capital Management LLC grew its holdings 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 purchasing an additional 6 shares during the period. Krilogy Financial LLC grew its holdings in shares of FedEx Corporation by 0.4% during the 2nd 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 period. FNY Managed Accounts LLC purchased a new position in shares of FedEx Corporation during the 1st quarter worth $100,000. Finally, Alexandria Capital LLC grew its holdings 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 purchasing an additional 13 shares during the period. Institutional investors own 76.07% of the company’s stock.

In other FedEx Corporation news, Director Kim Jabal sold 3,980 shares of FedEx Corporation stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value of $897,689.00. Following the transaction, the director now directly owns 6,080 shares in the company, valued at approximately $1,371,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of FedEx Corporation stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. Insiders sold a total of 40,094 shares of company stock worth $9,024,637 over the last quarter. Company insiders own 8.45% of the company’s stock.

A number of research firms have recently weighed in on FDX. Cowen and Company reiterated an “outperform” rating and set a $240.00 price target on shares of FedEx Corporation in a report on Friday, October 13th. Stifel Nicolaus reiterated a “neutral” rating on shares of FedEx Corporation in a report on Wednesday, August 16th. Citigroup Inc. reiterated a “buy” rating and set a $235.00 price target on shares of FedEx Corporation in a report on Thursday, September 14th. Bank of America Corporation reiterated a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a report on Wednesday, September 20th. Finally, Vetr cut FedEx Corporation to a “sell” rating and set a $204.84 target price for the company. in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $230.21.

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FedEx Corporation (NYSE:FDX) opened at $217.32 on Wednesday. FedEx Corporation has a 12 month low of $182.89 and a 12 month high of $231.35. The firm has a market capitalization of $58,255.09, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.

FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share 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 during the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter last year, the business posted $2.90 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. equities research analysts predict that FedEx Corporation will post 12.47 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.92%. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.87%.

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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