Keybank National Association OH Sells 1,424 Shares of FedEx Corporation (FDX)

Keybank National Association OH reduced its stake in FedEx Corporation (NYSE:FDX) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 41,478 shares of the shipping service provider’s stock after selling 1,424 shares during the quarter. Keybank National Association OH’s holdings in FedEx Corporation were worth $9,014,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in FedEx Corporation by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after purchasing an additional 918,896 shares during the last quarter. BlackRock Inc. lifted its holdings in FedEx Corporation by 1,912.1% in the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after purchasing an additional 14,086,601 shares during the last quarter. Geode Capital Management LLC lifted its holdings in FedEx Corporation by 8.4% in the 1st quarter. Geode Capital Management LLC now owns 2,236,044 shares of the shipping service provider’s stock worth $435,698,000 after purchasing an additional 173,544 shares during the last quarter. Harbour Capital Advisors LLC lifted its holdings in FedEx Corporation by 21,011.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after purchasing an additional 1,418,066 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in FedEx Corporation by 28.8% in the 1st quarter. TIAA CREF Investment Management LLC now owns 1,396,492 shares of the shipping service provider’s stock worth $272,525,000 after purchasing an additional 312,272 shares during the last quarter. Hedge funds and other institutional investors own 75.88% of the company’s stock.

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In other news, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was 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 directly owns 30,499 shares of the company’s stock, valued at $6,709,780. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the transaction, the director now directly owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,172 shares of company stock valued at $6,039,193. Company insiders own 8.45% of the company’s stock.

Shares of FedEx Corporation (NYSE:FDX) opened at 220.10 on Wednesday. The stock’s 50 day moving average price is $217.90 and its 200-day moving average price is $206.26. The firm has a market cap of $59.02 billion, a price-to-earnings ratio of 20.75 and a beta of 1.31. FedEx Corporation has a 52-week low of $168.00 and a 52-week high of $227.00.

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

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Friday, September 8th. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.87%.

A number of research analysts have recently commented on FDX shares. Vetr lowered FedEx Corporation to a “sell” rating and set a $204.84 price target for the company. in a report on Thursday, August 31st. J P Morgan Chase & Co reiterated an “overweight” rating and set a $237.00 price target on shares of FedEx Corporation in a report on Wednesday, June 21st. Credit Suisse Group upped their price target on FedEx Corporation from $225.00 to $237.00 and gave the stock an “outperform” rating in a report on Wednesday, June 21st. Cowen and Company reiterated an “outperform” rating and set a $240.00 price target on shares of FedEx Corporation in a report on Wednesday, June 21st. Finally, Robert W. Baird restated a “buy” rating and issued a $235.00 target price on shares of FedEx Corporation in a research note on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $228.26.

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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