Eastern Bank Lowers stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Eastern Bank reduced its stake in FedEx Corporation by 0.49% during the most recent quarter end. The investment management company now holds a total of 87,036 shares of FedEx Corporation which is valued at $14,881,415 after selling 429 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.FedEx Corporation makes up approximately 1.21% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Pennsylvania Trust Co boosted its stake in FDX in the latest quarter, The investment management firm added 488 additional shares and now holds a total of 5,550 shares of FedEx Corporation which is valued at $948,939. FedEx Corporation makes up approx 0.08% of Pennsylvania Trust Co’s portfolio.Cobiz Investment Management boosted its stake in FDX in the latest quarter, The investment management firm added 6,306 additional shares and now holds a total of 24,318 shares of FedEx Corporation which is valued at $4,236,439. FedEx Corporation makes up approx 1.02% of Cobiz Investment Management’s portfolio.Kelman-lazarov boosted its stake in FDX in the latest quarter, The investment management firm added 373 additional shares and now holds a total of 28,671 shares of FedEx Corporation which is valued at $4,994,775. FedEx Corporation makes up approx 2.84% of Kelman-lazarov’s portfolio.West Oak Capital boosted its stake in FDX in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 214 shares of FedEx Corporation which is valued at $37,292. FedEx Corporation makes up approx 0.03% of West Oak Capital’s portfolio.

FedEx Corporation opened for trading at $172.29 and hit $172.89 on the upside on Friday, eventually ending the session at $170.98, with a gain of 0.02% or 0.03 points. The heightened volatility saw the trading volume jump to 8,03,571 shares. Company has a market cap of $45,440 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.

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 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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