TIAA CREF Investment Management LLC raised its stake in FedEx Corporation (NYSE:FDX) by 28.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,396,492 shares of the shipping service provider’s stock after buying an additional 312,272 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.52% of FedEx Corporation worth $272,525,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. HighPoint Advisor Group LLC boosted its position in shares of FedEx Corporation by 7.6% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,171 shares of the shipping service provider’s stock valued at $429,000 after buying an additional 153 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of FedEx Corporation by 10.9% in the fourth quarter. Teachers Advisors LLC now owns 306,940 shares of the shipping service provider’s stock valued at $57,152,000 after buying an additional 30,257 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of FedEx Corporation during the fourth quarter valued at about $1,209,000. Macquarie Group Ltd. boosted its position in shares of FedEx Corporation by 3.2% in the fourth quarter. Macquarie Group Ltd. now owns 35,090 shares of the shipping service provider’s stock valued at $6,534,000 after buying an additional 1,090 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC boosted its position in shares of FedEx Corporation by 21.2% in the first quarter. Atalanta Sosnoff Capital LLC now owns 208,111 shares of the shipping service provider’s stock valued at $40,612,000 after buying an additional 36,459 shares during the last quarter. Institutional investors own 76.36% of the company’s stock.
Shares of FedEx Corporation (FDX) traded down 0.66% on Tuesday, hitting $207.00. 1,255,802 shares of the stock traded hands. The firm’s 50 day moving average is $213.51 and its 200-day moving average is $197.91. The company has a market cap of $55.53 billion, a PE ratio of 18.70 and a beta of 1.27. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. The business had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.30 earnings per share. Equities analysts predict that FedEx Corporation will post $13.58 earnings per share for the current year.
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FDX has been the topic of a number of recent analyst reports. Vetr upgraded shares of FedEx Corporation from a “buy” rating to a “strong-buy” rating and set a $208.76 price target on the stock in a report on Wednesday, April 12th. Zacks Investment Research upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Tuesday, May 23rd. ValuEngine upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, Seaport Global Securities began coverage on shares of FedEx Corporation in a report on Tuesday, June 6th. They issued a “neutral” rating on the stock. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. FedEx Corporation has an average rating of “Buy” and an average target price of $221.78.
In other FedEx Corporation news, EVP Robert B. Carter sold 24,522 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $210.96, for a total value of $5,173,161.12. Following the sale, the executive vice president now directly owns 68,556 shares of the company’s stock, valued at approximately $14,462,573.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Edwardson sold 2,208 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the sale, the director now directly owns 30,608 shares in the company, valued at $6,370,749.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,757 shares of company stock worth $16,447,426. Corporate 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.
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