Tokio Marine Asset Management Co. Ltd. Cuts Stake in FedEx Corporation (NYSE:FDX)

Tokio Marine Asset Management Co. Ltd. lowered its position in shares of FedEx Corporation (NYSE:FDX) by 23.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,571 shares of the shipping service provider’s stock after selling 1,093 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in FedEx Corporation were worth $697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FDX. Alexandria Capital LLC raised its position in FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after buying an additional 11 shares in the last quarter. Pinnacle Bank bought a new position in FedEx Corporation during the first quarter valued at approximately $122,000. Adirondack Trust Co. raised its position in FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares in the last quarter. Brick & Kyle Associates raised its position in FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares in the last quarter. Finally, Ancora Advisors LLC bought a new position in FedEx Corporation during the fourth quarter valued at approximately $157,000. Hedge funds and other institutional investors own 76.36% of the company’s stock.

Shares of FedEx Corporation (FDX) traded down 0.66% on Tuesday, hitting $207.00. 1,255,463 shares of the company’s stock were exchanged. The stock has a market cap of $55.53 billion, a price-to-earnings ratio of 18.70 and a beta of 1.27. The company’s 50-day moving average price is $213.51 and its 200 day moving average price is $197.91. FedEx Corporation has a 12-month low of $158.20 and a 12-month high of $219.99.

FedEx Corporation (NYSE:FDX) last issued its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.88 by $0.37. The business had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.30 earnings per share. On average, equities analysts predict that FedEx Corporation will post $13.58 earnings per share for the current fiscal year.

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FDX has been the subject of several recent research reports. Vetr lowered FedEx Corporation from a “strong-buy” rating to a “buy” rating and set a $203.90 price target for the company. in a research report on Wednesday, April 19th. Zacks Investment Research upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Tuesday, May 23rd. ValuEngine upgraded FedEx Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. UBS AG reiterated a “buy” rating and issued a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Finally, Deutsche Bank AG set a $235.00 target price on FedEx Corporation and gave the company a “buy” rating in a research report on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $221.78.

In related news, Director Kim Jabal sold 5,918 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $216.05, for a total transaction of $1,278,583.90. Following the sale, the director now owns 3,610 shares of the company’s stock, valued at $779,940.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the sale, the director now directly owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,757 shares of company stock worth $16,447,426. Insiders own 8.67% of the company’s stock.

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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