FedEx Corporation (FDX) Stake Held by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. continued to hold its position in FedEx Corporation (NYSE:FDX) during the first quarter, Holdings Channel reports. The institutional investor owned 21,030 shares of the shipping service provider’s stock at the end of the first quarter. Nippon Life Global Investors Americas Inc.’s holdings in FedEx Corporation were worth $4,104,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of FDX. Cornerstone Financial Partners LLC raised its position in FedEx Corporation by 0.3% in the first quarter. Cornerstone Financial Partners LLC now owns 2,118 shares of the shipping service provider’s stock valued at $413,000 after buying an additional 7 shares during the period. Beese Fulmer Investment Management Inc. raised its position in FedEx Corporation by 0.6% in the first quarter. Beese Fulmer Investment Management Inc. now owns 1,327 shares of the shipping service provider’s stock valued at $259,000 after buying an additional 8 shares during the period. Guardian Life Insurance Co. of America raised its position in FedEx Corporation by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock valued at $184,000 after buying an additional 9 shares during the period. Adirondack Trust Co. raised its position in FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares during the period. Finally, Brick & Kyle Associates raised its position in FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares during the period. Institutional investors own 76.36% of the company’s stock.

Shares of FedEx Corporation (NYSE FDX) traded down 0.60% during mid-day trading on Thursday, reaching $204.95. The company’s stock had a trading volume of 214,777 shares. 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 $54.98 billion, a P/E ratio of 18.51 and a beta of 1.27. The company’s 50-day moving average is $213.26 and its 200 day moving average is $198.44.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (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 firm had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. During the same quarter in the previous year, the business earned $3.30 earnings per share. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, analysts expect that FedEx Corporation will post $13.58 earnings per share for the current year.

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FDX has been the topic of a number of research analyst reports. Vetr upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price target on the stock in a research note on Wednesday, May 17th. UBS AG restated a “buy” rating and set a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Stephens set a $246.00 price target on FedEx Corporation and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Cowen and Company restated a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research note on Thursday. Finally, Seaport Global Securities initiated coverage on FedEx Corporation in a research note on Tuesday, June 6th. They set a “neutral” rating on the stock. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. FedEx Corporation presently has an average rating of “Buy” and an average target price of $221.78.

In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction dated 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 owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert B. Carter sold 24,522 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total value of $5,173,161.12. Following the sale, the executive vice president now directly owns 68,556 shares of the company’s stock, valued at approximately $14,462,573.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is 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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Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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