Beaton Management Co. Inc. Purchases New Stake in FedEx Corporation (FDX)

Beaton Management Co. Inc. purchased a new position in shares of FedEx Corporation (NYSE:FDX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,700 shares of the shipping service provider’s stock, valued at approximately $369,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of FedEx Corporation by 2.7% during the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after buying an additional 492,840 shares in the last quarter. BlackRock Inc. grew its holdings in shares of FedEx Corporation by 1,912.1% during the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after buying an additional 14,086,601 shares in the last quarter. FMR LLC grew its holdings in shares of FedEx Corporation by 0.3% during the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after buying an additional 15,382 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of FedEx Corporation by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 3,659,103 shares of the shipping service provider’s stock worth $795,260,000 after buying an additional 13,383 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of FedEx Corporation by 16.1% during the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after buying an additional 501,617 shares in the last quarter. 76.22% of the stock is currently owned by institutional investors.

FedEx Corporation (FDX) opened at $221.43 on Tuesday. The stock has a market capitalization of $58,496.42, a PE ratio of 18.32, a PEG ratio of 1.37 and a beta of 1.37. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. FedEx Corporation has a 52 week low of $182.75 and a 52 week high of $231.35.

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

A number of research analysts have weighed in on the company. Cowen and Company restated an “outperform” rating and issued a $240.00 price target on shares of FedEx Corporation in a research note on Friday, October 13th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $236.00 price target on shares of FedEx Corporation in a research note on Friday, October 20th. J P Morgan Chase & Co raised their price target on FedEx Corporation from $237.00 to $264.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Zacks Investment Research cut FedEx Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $247.00 price objective (up from $240.00) on shares of FedEx Corporation in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the stock. FedEx Corporation has a consensus rating of “Buy” and a consensus target price of $230.21.

In related news, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value of $897,689.00. Following the transaction, the director now directly owns 6,080 shares in the company, valued at $1,371,344. The disclosure for this sale can be found here. Insiders sold a total of 40,094 shares of company stock worth $9,024,637 over the last three months. 8.45% of the stock is owned by company insiders.

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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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