Dynamic Technology Lab Private Ltd Invests $3.78 Million in FedEx Corporation (FDX)

Dynamic Technology Lab Private Ltd bought a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,410 shares of the shipping service provider’s stock, valued at approximately $3,783,000. FedEx Corporation makes up 0.7% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its 2nd largest position.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its position in FedEx Corporation by 1,912.1% in the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after purchasing an additional 14,086,601 shares during the last quarter. Harbour Capital Advisors LLC raised its position in FedEx Corporation by 21,011.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock valued at $6,556,000 after purchasing an additional 1,418,066 shares during the last quarter. Davis Selected Advisers raised its position in FedEx Corporation by 265.4% during the 2nd quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock worth $366,118,000 after buying an additional 1,223,646 shares during the last quarter. Vanguard Group Inc. raised its position in FedEx Corporation by 5.4% during the 1st 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. Finally, Janus Henderson Group PLC raised its position in FedEx Corporation by 381.6% during the 2nd quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock worth $191,934,000 after buying an additional 699,728 shares during the last quarter. Institutional investors and hedge funds own 76.22% of the company’s stock.

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Shares of FedEx Corporation (NYSE:FDX) opened at $221.43 on Tuesday. The stock has a market cap of $58,496.42, a P/E ratio of 18.32, a PEG ratio of 1.37 and a beta of 1.37. FedEx Corporation has a 12 month low of $182.75 and a 12 month high of $231.35. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63.

FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. During the same period in the previous year, the business posted $2.90 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. sell-side analysts forecast that FedEx Corporation will post 12.47 EPS for the current fiscal year.

In other news, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the completion of the sale, the chief executive officer now owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the sale, the insider now directly owns 36,747 shares of the company’s stock, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock valued at $9,024,637 in the last three months. Corporate insiders own 8.45% of the company’s stock.

A number of brokerages have commented on FDX. Cowen and Company restated an “outperform” rating and set a $240.00 price objective on shares of FedEx Corporation in a research report on Friday, October 13th. Stifel Nicolaus restated a “neutral” rating on shares of FedEx Corporation in a research report on Wednesday, August 16th. Citigroup Inc. restated a “buy” rating and set a $235.00 price objective on shares of FedEx Corporation in a research report on Thursday, September 14th. Bank of America Corporation reaffirmed a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research note on Wednesday, September 20th. Finally, Vetr cut shares of FedEx Corporation to a “sell” rating and set a $204.84 price target on the stock. in a research note on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $230.21.

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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