Weatherly Asset Management L. P. Purchases 50 Shares of FedEx Corporation (FDX)

Weatherly Asset Management L. P. lifted its position in shares of FedEx Corporation (NYSE:FDX) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,240 shares of the shipping service provider’s stock after buying an additional 50 shares during the quarter. Weatherly Asset Management L. P.’s holdings in FedEx Corporation were worth $1,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Telos Capital Management Inc. grew its holdings in shares of FedEx Corporation by 7.4% during the second quarter. Telos Capital Management Inc. now owns 8,930 shares of the shipping service provider’s stock worth $1,941,000 after buying an additional 616 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of FedEx Corporation by 22.2% during the second quarter. Bessemer Group Inc. now owns 4,906 shares of the shipping service provider’s stock worth $1,066,000 after buying an additional 891 shares in the last quarter. Lee Danner & Bass Inc. grew its holdings in shares of FedEx Corporation by 0.6% during the second quarter. Lee Danner & Bass Inc. now owns 53,787 shares of the shipping service provider’s stock worth $11,690,000 after buying an additional 300 shares in the last quarter. David R. Rahn & Associates Inc. grew its holdings in shares of FedEx Corporation by 0.5% during the second quarter. David R. Rahn & Associates Inc. now owns 6,590 shares of the shipping service provider’s stock worth $1,432,000 after buying an additional 30 shares in the last quarter. Finally, Lyell Wealth Management LP grew its holdings in shares of FedEx Corporation by 54.1% during the second quarter. Lyell Wealth Management LP now owns 11,112 shares of the shipping service provider’s stock worth $2,420,000 after buying an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 75.86% of the company’s stock.

Several research firms recently issued reports on FDX. Zacks Investment Research raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Tuesday, May 23rd. Vetr raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 target price on the stock in a research report on Wednesday, May 17th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $237.00 target price on shares of FedEx Corporation in a research report on Wednesday, June 21st. Credit Suisse Group raised their target price on shares of FedEx Corporation from $225.00 to $237.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 21st. Finally, Cowen and Company reissued an “outperform” rating and issued a $240.00 target price on shares of FedEx Corporation in a research report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $221.72.

In other news, Director Kim Jabal sold 609 shares of the stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $216.13, for a total value of $131,623.17. Following the completion of the sale, the director now directly owns 2,100 shares of the company’s stock, valued at $453,873. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 24,522 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total value of $5,173,161.12. Following the completion of the sale, the executive vice president now directly owns 68,556 shares of the company’s stock, valued at $14,462,573.76. The disclosure for this sale can be found here. Insiders sold 77,757 shares of company stock valued at $16,447,426 over the last three months. 8.45% of the stock is owned by company insiders.

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Shares of FedEx Corporation (FDX) opened at 212.40 on Tuesday. FedEx Corporation has a 52 week low of $158.20 and a 52 week high of $219.99. The company has a market cap of $56.98 billion, a price-to-earnings ratio of 19.19 and a beta of 1.28. The company has a 50 day moving average of $209.32 and a 200-day moving average of $201.38.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The company had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. During the same period in the prior year, the business earned $3.30 earnings per share. FedEx Corporation’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that FedEx Corporation will post $13.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.94%. FedEx Corporation’s dividend payout ratio is 18.08%.

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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