FedEx Corporation (FDX) : Martin Co Inc Tn reduced its stake in FedEx Corporation by 3.9% during the most recent quarter end. The investment management company now holds a total of 21,295 shares of FedEx Corporation which is valued at $3,524,323 after selling 865 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.FedEx Corporation makes up approximately 1.09% of Martin Co Inc Tn’s portfolio.
Other Hedge Funds, Including , Bronson Point Management sold out all of its stake in FDX during the most recent quarter. The investment firm sold 10,000 shares of FDX which is valued $1,655,000. Bluemountain Capital Management added FDX to its portfolio by purchasing 6,640 company shares during the most recent quarter which is valued at $1,098,920. FedEx Corporation makes up approx 0.03% of Bluemountain Capital Management’s portfolio.M&r Capital Management Inc boosted its stake in FDX in the latest quarter, The investment management firm added 893 additional shares and now holds a total of 60,157 shares of FedEx Corporation which is valued at $9,955,984. FedEx Corporation makes up approx 2.51% of M&r Capital Management Inc’s portfolio.
FedEx Corporation opened for trading at $165.5 and hit $166.25 on the upside on Thursday, eventually ending the session at $165.64, with a gain of 0.43% or 0.71 points. The heightened volatility saw the trading volume jump to 11,81,901 shares. Company has a market cap of $43,981 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.
Investors should note that on Aug 19, 2016, FedEx Corporation announced a cash dividend of $0.4000. The company’s management has announced Sep 8, 2016 as the ex-dividend date and fixed the record date on Sep 12, 2016. The payable date has been fixed on Oct 3, 2016.
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 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.