CFO4Life Group LLC bought a new stake in shares of FedEx Corporation (NYSE:FDX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,608 shares of the shipping service provider’s stock, valued at approximately $509,000.
Several other institutional investors have also added to or reduced their stakes in the stock. 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 valued at $169,906,000 after buying an additional 819,777 shares during the period. 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 valued at $182,629,000 after buying an additional 732,644 shares during the period. Manning & Napier Advisors LLC acquired a new position in FedEx Corporation during the first quarter valued at approximately $59,340,000. Swiss National Bank boosted its position in FedEx Corporation by 26.8% in the first quarter. Swiss National Bank now owns 894,468 shares of the shipping service provider’s stock valued at $174,555,000 after buying an additional 189,100 shares during the period. Finally, Jennison Associates LLC boosted its position in FedEx Corporation by 5.4% in the first quarter. Jennison Associates LLC now owns 3,429,971 shares of the shipping service provider’s stock valued at $669,359,000 after buying an additional 175,777 shares during the period. Institutional investors own 76.36% of the company’s stock.
FedEx Corporation (NYSE:FDX) opened at 204.87 on Friday. The company has a 50 day moving average price of $212.82 and a 200-day moving average price of $198.62. FedEx Corporation has a 52-week low of $158.20 and a 52-week high of $219.99. The firm has a market cap of $54.96 billion, a price-to-earnings ratio of 18.51 and a beta of 1.27.
FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.37. The company had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.30 earnings per share. Equities research analysts anticipate that FedEx Corporation will post $13.58 EPS for the current year.
TRADEMARK VIOLATION NOTICE: “CFO4Life Group LLC Purchases New Position in FedEx Corporation (FDX)” was first published by Stock Observer and is owned by of Stock Observer. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The legal version of this news story can be read at https://www.thestockobserver.com/2017/08/13/cfo4life-group-llc-takes-position-in-fedex-corporation-fdx-updated-updated.html.
Several equities analysts have recently commented on FDX shares. Zacks Investment Research upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Tuesday, May 23rd. Vetr upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 target price for the company in a research note on Wednesday, May 17th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $237.00 target price on shares of FedEx Corporation in a research note on Wednesday, June 21st. Credit Suisse Group increased their target price on FedEx Corporation from $225.00 to $237.00 and gave the company an “outperform” rating in a research note on Wednesday, June 21st. Finally, Cowen and Company restated an “outperform” rating and set a $240.00 price objective on shares of FedEx Corporation in a research note on Wednesday, June 21st. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $221.78.
In related news, Director John A. Edwardson sold 2,208 shares of the company’s stock in a transaction dated 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 sale, the director now owns 30,608 shares in the company, valued at $6,370,749.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Carter sold 24,522 shares of the company’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 completion of the sale, the executive vice president now 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 90 days, insiders have sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is currently owned by corporate insiders.
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.
Receive News & Ratings for FedEx Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corporation and related companies with MarketBeat.com's FREE daily email newsletter.