Bridges Investment Management Inc. grew its holdings in FedEx Corporation (NYSE:FDX) by 0.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 36,098 shares of the shipping service provider’s stock after acquiring an additional 252 shares during the quarter. FedEx Corporation comprises 1.0% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Bridges Investment Management Inc.’s holdings in FedEx Corporation were worth $8,143,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in FDX. Arizona State Retirement System increased its holdings in shares of FedEx Corporation by 0.5% in the 1st quarter. Arizona State Retirement System now owns 60,739 shares of the shipping service provider’s stock valued at $11,853,000 after acquiring an additional 300 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of FedEx Corporation by 13.5% in the 1st quarter. Blair William & Co. IL now owns 17,787 shares of the shipping service provider’s stock valued at $3,447,000 after acquiring an additional 2,114 shares during the last quarter. American International Group Inc. increased its holdings in shares of FedEx Corporation by 0.4% in the 1st quarter. American International Group Inc. now owns 76,053 shares of the shipping service provider’s stock valued at $14,842,000 after acquiring an additional 323 shares during the last quarter. Concert Wealth Management Inc. increased its holdings in shares of FedEx Corporation by 6.1% in the 1st quarter. Concert Wealth Management Inc. now owns 4,667 shares of the shipping service provider’s stock valued at $870,000 after acquiring an additional 269 shares during the last quarter. Finally, Cibc World Markets Corp increased its holdings in shares of FedEx Corporation by 52.2% in the 1st quarter. Cibc World Markets Corp now owns 25,587 shares of the shipping service provider’s stock valued at $4,993,000 after acquiring an additional 8,777 shares during the last quarter. Institutional investors and hedge funds own 76.22% of the company’s stock.
A number of research analysts have recently commented on FDX shares. Wells Fargo & Company increased their price objective on FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Credit Suisse Group reiterated an “outperform” rating and issued a $233.00 price objective (down previously from $242.00) on shares of FedEx Corporation in a report on Friday, September 15th. Bank of America Corporation reiterated a “buy” rating and issued a $247.00 price objective (up previously from $240.00) on shares of FedEx Corporation in a report on Friday, October 6th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $229.00 target price on shares of FedEx Corporation in a research report on Wednesday, September 20th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on FedEx Corporation in a research report on Monday. They issued a “buy” rating and a $270.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $230.21.
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FedEx Corporation (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The firm had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same period in the previous year, the business earned $2.90 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. equities analysts predict that FedEx Corporation will post 12.47 earnings per share for the current fiscal year.
In related news, CEO Michael L. Ducker sold 14,964 shares of the firm’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 value of $3,379,619.40. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the transaction, the insider now directly owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders sold a total of 40,094 shares of company stock valued at $9,024,637 over the last ninety days. 8.45% of the stock is currently owned by company insiders.
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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