FedEx Corporation (FDX) : Cornerstone Investment Partners added new position in FedEx Corporation during the most recent quarter end. The investment management firm now holds 286,311 shares of FedEx Corporation which is valued at $48,944,865 , the company said in a statement filed on Oct 13, 2016 with the SEC.FedEx Corporation makes up approximately 2.16% of Cornerstone Investment Partners’s portfolio.
Other Hedge Funds, Including , Edge Wealth Management sold out all of its stake in FDX during the most recent quarter. The investment firm sold 8 shares of FDX which is valued $1,368.Banced Corp reduced its stake in FDX by selling 111 shares or 4.05% in the most recent quarter. The Hedge Fund company now holds 2,630 shares of FDX which is valued at $457,830. FedEx Corporation makes up approx 0.91% of Banced Corp’s portfolio.Legal General Group Plc boosted its stake in FDX in the latest quarter, The investment management firm added 111 additional shares and now holds a total of 1,138,757 shares of FedEx Corporation which is valued at $198,234,819. FedEx Corporation makes up approx 0.20% of Legal General Group Plc’s portfolio.Terra Nova Asset Management reduced its stake in FDX by selling 2,655 shares or 68.16% in the most recent quarter. The Hedge Fund company now holds 1,240 shares of FDX which is valued at $215,859. FedEx Corporation makes up approx 0.48% of Terra Nova Asset Management’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in FDX by selling 51,187 shares or 17.75% in the most recent quarter. The Hedge Fund company now holds 237,227 shares of FDX which is valued at $41,339,177. FedEx Corporation makes up approx 0.17% of Bnp Paribas Arbitrage Sa’s portfolio.
FedEx Corporation closed down -0.13 points or -0.07% at $174.08 with 14,62,086 shares getting traded on Tuesday. Post opening the session at $173.8, the shares hit an intraday low of $173.05 and an intraday high of $174.09 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.
Many Wall Street Analysts have commented on FedEx Corporation. 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 FedExs other companies with sales marketing information technology communications customer service and certain other back-office support. The Companys 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.