Cedar Hill Associates Lowers stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Cedar Hill Associates reduced its stake in FedEx Corporation by 0.26% during the most recent quarter end. The investment management company now holds a total of 98,777 shares of FedEx Corporation which is valued at $18,388,326 after selling 253 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.FedEx Corporation makes up approximately 2.79% of Cedar Hill Associates’s portfolio.

Other Hedge Funds, Including , Morris Capital Advisors reduced its stake in FDX by selling 100 shares or 3.67% in the most recent quarter. The Hedge Fund company now holds 2,622 shares of FDX which is valued at $488,112. FedEx Corporation makes up approx 0.30% of Morris Capital Advisors’s portfolio.Bridgecreek Investment Management reduced its stake in FDX by selling 945 shares or 2.83% in the most recent quarter. The Hedge Fund company now holds 32,413 shares of FDX which is valued at $5,834,988. FedEx Corporation makes up approx 1.81% of Bridgecreek Investment Management’s portfolio.Roffman Miller Associates Inc Pa boosted its stake in FDX in the latest quarter, The investment management firm added 1,400 additional shares and now holds a total of 99,198 shares of FedEx Corporation which is valued at $17,069,992. FedEx Corporation makes up approx 2.80% of Roffman Miller Associates Inc Pa’s portfolio. Alpha Cubed Investments added FDX to its portfolio by purchasing 2,401 company shares during the most recent quarter which is valued at $413,164. FedEx Corporation makes up approx 0.11% of Alpha Cubed Investments’s portfolio.New Mexico Educational Retirement Board reduced its stake in FDX by selling 3,800 shares or 13.09% in the most recent quarter. The Hedge Fund company now holds 25,236 shares of FDX which is valued at $4,311,318. FedEx Corporation makes up approx 0.22% of New Mexico Educational Retirement Board’s portfolio.

FedEx Corporation opened for trading at $184.71 and hit $187.33 on the upside on Monday, eventually ending the session at $187.29, with a gain of 1.19% or 2.21 points. The heightened volatility saw the trading volume jump to 13,34,442 shares. Company has a market cap of $49,774 M.

On the company’s financial health, FedEx Corporation reported $2.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Sep 20, 2016. Analyst had a consensus of $2.78. The company had revenue of $14700.00 million for the quarter, compared to analysts expectations of $14440.89 million. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 EPS.

Investors should note that on Nov 18, 2016, FedEx Corporation announced a cash dividend of $0.4000. The company’s management has announced Dec 8, 2016 as the ex-dividend date and fixed the record date on Dec 12, 2016. The payable date has been fixed on Jan 3, 2017.

Many Wall Street Analysts have commented on FedEx Corporation. Stifel Downgraded FedEx Corporation on Nov 15, 2016 to ” Hold”, Price Target of the shares are set at $186.Company shares were Reiterated by Stifel on Sep 21, 2016 to “Buy”, Firm has raised the Price Target to $ 186 from a previous price target of $179 .

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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