FedEx Corporation (FDX) Shares Bought by Swiss National Bank

Swiss National Bank raised its holdings in shares of FedEx Corporation (NYSE:FDX) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 925,068 shares of the shipping service provider’s stock after acquiring an additional 30,600 shares during the quarter. Swiss National Bank owned approximately 0.34% of FedEx Corporation worth $201,045,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FDX. Ray Gerald L & Associates Ltd. grew its stake in shares of FedEx Corporation by 3.9% in the 1st quarter. Ray Gerald L & Associates Ltd. now owns 20,239 shares of the shipping service provider’s stock valued at $3,950,000 after buying an additional 765 shares in the last quarter. Comerica Bank grew its stake in shares of FedEx Corporation by 1.7% in the 1st quarter. Comerica Bank now owns 68,702 shares of the shipping service provider’s stock valued at $13,171,000 after buying an additional 1,142 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of FedEx Corporation by 7.0% in the 1st quarter. Trust Co. of Vermont now owns 14,706 shares of the shipping service provider’s stock valued at $2,869,000 after buying an additional 962 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of FedEx Corporation by 3.8% in the 1st quarter. Xact Kapitalforvaltning AB now owns 34,920 shares of the shipping service provider’s stock valued at $6,815,000 after buying an additional 1,268 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its stake in shares of FedEx Corporation by 1.5% in the 1st quarter. Pictet Asset Management Ltd. now owns 132,869 shares of the shipping service provider’s stock valued at $25,929,000 after buying an additional 1,900 shares in the last quarter. 75.89% of the stock is currently owned by institutional investors.

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Shares of FedEx Corporation (NYSE FDX) opened at 220.78 on Wednesday. The company has a 50-day moving average price of $216.27 and a 200 day moving average price of $205.52. FedEx Corporation has a 12-month low of $168.00 and a 12-month high of $227.00. The firm has a market capitalization of $59.20 billion, a price-to-earnings ratio of 20.81 and a beta of 1.31.

FedEx Corporation (NYSE:FDX) last issued its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The business had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.35 billion. During the same quarter in the prior year, the firm posted $2.90 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts expect that FedEx Corporation will post $12.47 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.91%. FedEx Corporation’s payout ratio is currently 18.87%.

In related news, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the sale, the director now directly owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of FedEx Corporation stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,172 shares of company stock valued at $6,039,193. 8.45% of the stock is currently owned by insiders.

FDX has been the subject of several recent research reports. Vetr cut FedEx Corporation to a “sell” rating and set a $204.84 price target for the company. in a research note on Thursday, August 31st. BMO Capital Markets reissued a “buy” rating and issued a $245.00 price target on shares of FedEx Corporation in a research note on Wednesday, September 6th. BidaskClub cut FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research cut FedEx Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, Bank of America Corporation reissued a “buy” rating and issued a $247.00 price target (up previously from $240.00) on shares of FedEx Corporation in a research note on Friday, October 6th. Two research 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 stock. The company presently has a consensus rating of “Buy” and a consensus target price of $227.14.

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.

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Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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