FedEx Corporation (NYSE:FDX) Stake Maintained by Lakewood Capital Management LP

Lakewood Capital Management LP continued to hold its position in shares of FedEx Corporation (NYSE:FDX) during the first quarter, Holdings Channel reports. The firm owned 237,500 shares of the shipping service provider’s stock at the end of the first quarter. FedEx Corporation comprises 1.9% of Lakewood Capital Management LP’s portfolio, making the stock its 19th largest position. Lakewood Capital Management LP’s holdings in FedEx Corporation were worth $46,348,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. boosted its position in FedEx Corporation by 1,912.1% in 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 during the last quarter. Vanguard Group Inc. boosted its position in FedEx Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after buying an additional 918,896 shares during the last quarter. Pioneer Investment Management Inc. boosted its position in FedEx Corporation by 1,611.5% in the first quarter. Pioneer Investment Management Inc. now owns 870,646 shares of the shipping service provider’s stock worth $169,906,000 after buying an additional 819,777 shares during the last quarter. Nordea Investment Management AB boosted its position in FedEx Corporation by 360.6% in the first quarter. Nordea Investment Management AB now owns 935,838 shares of the shipping service provider’s stock worth $182,629,000 after buying an additional 732,644 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in FedEx Corporation by 28.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,396,492 shares of the shipping service provider’s stock worth $272,525,000 after buying an additional 312,272 shares during the last quarter. 76.36% of the stock is owned by institutional investors and hedge funds.

Shares of FedEx Corporation (NYSE FDX) traded down 0.65% on Thursday, reaching $204.85. The company had a trading volume of 119,446 shares. The firm has a 50-day moving average price of $213.26 and a 200 day moving average price of $198.44. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99. The firm has a market capitalization of $54.95 billion, a price-to-earnings ratio of 18.50 and a beta of 1.27.

FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. During the same period in the previous year, the firm posted $3.30 EPS. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities research analysts predict that FedEx Corporation will post $13.58 earnings per share for the current year.

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A number of research firms recently weighed in on FDX. Cowen and Company reaffirmed a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a report on Tuesday, July 11th. Loop Capital reaffirmed a “buy” rating and issued a $234.00 price target on shares of FedEx Corporation in a report on Tuesday, July 4th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $220.00 price target on shares of FedEx Corporation in a report on Monday, July 3rd. Vetr cut FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 price target for the company. in a report on Monday, June 26th. Finally, BMO Capital Markets upped their price target on FedEx Corporation from $220.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, June 23rd. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $221.78.

In related news, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the completion of the transaction, the chief executive officer now directly owns 29,148 shares in the company, valued at approximately $6,150,228. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry J. Maier sold 12,580 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $209.50, for a total value of $2,635,510.00. Following the transaction, the insider now owns 38,177 shares of the company’s stock, valued at $7,998,081.50. The disclosure for this sale can be found here. Insiders have sold a total of 77,757 shares of company stock valued at $16,447,426 over the last 90 days. 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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Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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