Oppenheimer Asset Management Inc. Takes Position in FedEx Corporation (FDX)

Oppenheimer Asset Management Inc. acquired a new stake in FedEx Corporation (NYSE:FDX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 34,591 shares of the shipping service provider’s stock, valued at approximately $6,750,000.

Several other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of FedEx Corporation by 2.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock valued at $13,641,000 after buying an additional 1,852 shares during the last quarter. Quantitative Systematic Strategies LLC raised its stake in shares of FedEx Corporation by 354.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 13,026 shares of the shipping service provider’s stock valued at $2,542,000 after buying an additional 10,159 shares during the last quarter. Madison Investment Holdings Inc. raised its stake in shares of FedEx Corporation by 63.6% in the first quarter. Madison Investment Holdings Inc. now owns 181,250 shares of the shipping service provider’s stock valued at $35,371,000 after buying an additional 70,436 shares during the last quarter. ING Groep NV raised its stake in shares of FedEx Corporation by 245.5% in the first quarter. ING Groep NV now owns 17,525 shares of the shipping service provider’s stock valued at $3,420,000 after buying an additional 12,453 shares during the last quarter. Finally, Webster Bank N. A. raised its stake in shares of FedEx Corporation by 20.3% in the first quarter. Webster Bank N. A. now owns 2,154 shares of the shipping service provider’s stock valued at $420,000 after buying an additional 364 shares during the last quarter. 76.36% of the stock is currently owned by institutional investors.

FedEx Corporation (NYSE:FDX) traded down 0.47% during midday trading on Thursday, hitting $205.22. The stock had a trading volume of 157,357 shares. The company’s 50-day moving average price is $213.26 and its 200 day moving average price is $198.44. The company has a market capitalization of $55.05 billion, a PE ratio of 18.54 and a beta of 1.27. FedEx Corporation has a 52 week low of $158.20 and a 52 week high of $219.99.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating the Zacks’ 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 company earned $3.30 EPS. FedEx Corporation’s revenue was up 21.0% compared to the same quarter last year. On average, analysts expect that FedEx Corporation will post $13.58 EPS for the current year.

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Several analysts have recently weighed in on FDX shares. Vetr raised FedEx Corporation from a “buy” rating to a “strong-buy” rating and set a $208.76 price objective on the stock in a report on Wednesday, April 12th. Stifel Nicolaus lifted their price objective on FedEx Corporation from $194.00 to $216.00 and gave the stock a “hold” rating in a report on Monday, June 12th. Oppenheimer Holdings, Inc. lifted their price objective on FedEx Corporation from $218.00 to $229.00 and gave the stock an “outperform” rating in a report on Thursday, June 15th. Zacks Investment Research lowered FedEx Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. Finally, Deutsche Bank AG set a $235.00 price objective on FedEx Corporation and gave the stock a “buy” rating in a report on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. FedEx Corporation currently has an average rating of “Buy” and an average target price of $221.78.

In other news, Director John A. Edwardson sold 2,208 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the transaction, the director now directly owns 30,608 shares in the company, valued at approximately $6,370,749.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John L. Merino sold 7,200 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total value of $1,521,072.00. Following the completion of the transaction, the vice president now owns 33,908 shares of the company’s stock, valued at $7,163,404.08. The disclosure for this sale can be found here. Insiders sold a total of 77,757 shares of company stock valued at $16,447,426 over the last quarter. 8.67% of the stock is owned by corporate 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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Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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