Cedar Hill Associates Lowers stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Cedar Hill Associates reduced its stake in FedEx Corporation by 1.14% during the most recent quarter end. The investment management company now holds a total of 99,030 shares of FedEx Corporation which is valued at $15,920,063 after selling 1,145 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.FedEx Corporation makes up approximately 2.66% of Cedar Hill Associates’s portfolio.

Other Hedge Funds, Including , Eastern Bank boosted its stake in FDX in the latest quarter, The investment management firm added 286 additional shares and now holds a total of 87,465 shares of FedEx Corporation which is valued at $14,060,873. FedEx Corporation makes up approx 1.10% of Eastern Bank’s portfolio.Gierl Augustine Investment Management Inc boosted its stake in FDX in the latest quarter, The investment management firm added 55 additional shares and now holds a total of 85 shares of FedEx Corporation which is valued at $13,636. FedEx Corporation makes up approx 0.01% of Gierl Augustine Investment Management Inc’s portfolio.Campbell Newman Asset Management Inc reduced its stake in FDX by selling 505 shares or 9.43% in the most recent quarter. The Hedge Fund company now holds 4,850 shares of FDX which is valued at $778,037. FedEx Corporation makes up approx 0.14% of Campbell Newman Asset Management Inc’s portfolio.Triangle Securities Wealth Management reduced its stake in FDX by selling 175 shares or 6.85% in the most recent quarter. The Hedge Fund company now holds 2,381 shares of FDX which is valued at $371,960. FedEx Corporation makes up approx 0.27% of Triangle Securities Wealth Management’s portfolio. Cohen Lawrence B added FDX to its portfolio by purchasing 4,510 company shares during the most recent quarter which is valued at $704,552. FedEx Corporation makes up approx 0.41% of Cohen Lawrence B’s portfolio.

FedEx Corporation opened for trading at $160.76 and hit $161.17 on the upside on Monday, eventually ending the session at $160.76, with a gain of 0.11% or 0.17 points. The heightened volatility saw the trading volume jump to 8,70,303 shares. Company has a market cap of $43,152 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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