Reliant Investment Management buys $3,409,911 stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Reliant Investment Management scooped up 305 additional shares in FedEx Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 21,231 shares of FedEx Corporation which is valued at $3,409,911.FedEx Corporation makes up approximately 2.97% of Reliant Investment Management’s portfolio.

Other Hedge Funds, Including , Cobiz Investment Management reduced its stake in FDX by selling 646 shares or 3.46% in the most recent quarter. The Hedge Fund company now holds 18,012 shares of FDX which is valued at $2,892,907. FedEx Corporation makes up approx 0.71% of Cobiz Investment Management’s portfolio.Redwood Investments reduced its stake in FDX by selling 3 shares or 20.0% in the most recent quarter. The Hedge Fund company now holds 12 shares of FDX which is valued at $1,931.Tokio Marine Asset Management Co Ltd reduced its stake in FDX by selling 574 shares or 7.12% in the most recent quarter. The Hedge Fund company now holds 7,484 shares of FDX which is valued at $1,204,250. FedEx Corporation makes up approx 0.12% of Tokio Marine Asset Management Co Ltd’s portfolio.Mcqueen Ball Associates reduced its stake in FDX by selling 100 shares or 2.93% in the most recent quarter. The Hedge Fund company now holds 3,314 shares of FDX which is valued at $532,792. FedEx Corporation makes up approx 0.37% of Mcqueen Ball Associates’s portfolio.

FedEx Corporation closed down -0.79 points or -0.49% at $159.82 with 8,76,796 shares getting traded on Thursday. Post opening the session at $160.74, the shares hit an intraday low of $158.85 and an intraday high of $160.84 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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