Portland Global Advisors Lowers stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Portland Global Advisors reduced its stake in FedEx Corporation by 0.85% during the most recent quarter end. The investment management company now holds a total of 17,510 shares of FedEx Corporation which is valued at $2,817,534 after selling 150 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.FedEx Corporation makes up approximately 1.25% of Portland Global Advisors’s portfolio.

Other Hedge Funds, Including , First Dallas Securities reduced its stake in FDX by selling 400 shares or 7.01% in the most recent quarter. The Hedge Fund company now holds 5,305 shares of FDX which is valued at $853,628. FedEx Corporation makes up approx 0.63% of First Dallas Securities’s portfolio. Mercer Capital Advisers added FDX to its portfolio by purchasing 1,535 company shares during the most recent quarter which is valued at $246,782. FedEx Corporation makes up approx 0.20% of Mercer Capital Advisers’s portfolio.Farmers Merchants Investments Inc reduced its stake in FDX by selling 750 shares or 4.22% in the most recent quarter. The Hedge Fund company now holds 17,042 shares of FDX which is valued at $2,727,913. FedEx Corporation makes up approx 0.29% of Farmers Merchants Investments Inc’s portfolio.

FedEx Corporation opened for trading at $160.62 and hit $162.21 on the upside on Friday, eventually ending the session at $161.9, with a gain of 0.28% or 0.45 points. The heightened volatility saw the trading volume jump to 10,16,365 shares. Company has a market cap of $42,988 M.

On the company’s financial health, FedEx Corporation reported $3.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jun 21, 2016. Analyst had a consensus of $3.28. The company had revenue of $12979.00 million for the quarter, compared to analysts expectations of $12771.21 million. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 EPS.

Many Wall Street Analysts have commented on FedEx Corporation. Company shares were Reiterated by RBC Capital Mkts on Jun 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 174 from a previous price target of $158 .Company shares were Reiterated by Stifel on Jun 22, 2016 to “Buy”, Firm has raised the Price Target to $ 179 from a previous price target of $178 .Company shares were Reiterated by UBS on Jun 3, 2016 to “Buy”, Firm has raised the Price Target to $ 187 from a previous price target of $186 .

FedEx Corporation (FedEx) provides a portfolio of transportation e-commerce and business services under the FedEx brand. The Company offers its services through companies constituting four business segments: FedEx Express FedEx Ground FedEx Freight and FedEx Services. FedEx Express offers a range of domestic and international shipping services for delivery of packages and freight. FedEx Ground provides business and residential money-back guaranteed ground package delivery services. FedEx Freight offers less-than-truckload (LTL) freight services. FedEx Services provides FedEx’s other companies with sales marketing information technology communications customer service and certain other back-office support. The Company’s subsidiaries include Federal Express Corporation FedEx Trade Networks Inc. FedEx Ground Package System Inc. FedEx SmartPost Inc. FedEx Corporate Services Inc. and GENCO Distribution System Inc. among others.

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