Darrell King Lowers stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Darrell King reduced its stake in FedEx Corporation by 1.27% during the most recent quarter end. The investment management company now holds a total of 157,589 shares of FedEx Corporation which is valued at $26,080,980 after selling 2,029 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.FedEx Corporation makes up approximately 4.68% of Darrell King’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds reduced its stake in FDX by selling 49,851 shares or 26.6% in the most recent quarter. The Hedge Fund company now holds 137,537 shares of FDX which is valued at $22,762,374. FedEx Corporation makes up approx 0.03% of Oppenheimerfunds’s portfolio.Signature Estate Investment Advisors reduced its stake in FDX by selling 71,608 shares or 97.51% in the most recent quarter. The Hedge Fund company now holds 1,831 shares of FDX which is valued at $299,735. FedEx Corporation makes up approx 0.05% of Signature Estate Investment Advisors’s portfolio.Spf Beheer Bv reduced its stake in FDX by selling 21,084 shares or 5.15% in the most recent quarter. The Hedge Fund company now holds 388,370 shares of FDX which is valued at $64,387,862. FedEx Corporation makes up approx 3.28% of Spf Beheer Bv’s portfolio.Torch Wealth Management reduced its stake in FDX by selling 425 shares or 4.28% in the most recent quarter. The Hedge Fund company now holds 9,495 shares of FDX which is valued at $1,526,511. FedEx Corporation makes up approx 1.09% of Torch Wealth Management’s portfolio.Benin Management Corp reduced its stake in FDX by selling 519 shares or 1.89% in the most recent quarter. The Hedge Fund company now holds 26,915 shares of FDX which is valued at $4,317,704. FedEx Corporation makes up approx 2.18% of Benin Management Corp’s portfolio.

FedEx Corporation opened for trading at $169 and hit $169.44 on the upside on Tuesday, eventually ending the session at $168.59, with a gain of 0.42% or 0.7 points. The heightened volatility saw the trading volume jump to 8,50,742 shares. Company has a market cap of $44,765 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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