Tradition Capital Management Lowers stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Tradition Capital Management reduced its stake in FedEx Corporation by 26.54% during the most recent quarter end. The investment management company now holds a total of 23,407 shares of FedEx Corporation which is valued at $3,759,398 after selling 8,458 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.FedEx Corporation makes up approximately 1.22% of Tradition Capital Management’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in FDX by selling 51,283 shares or 8.83% in the most recent quarter. The Hedge Fund company now holds 529,279 shares of FDX which is valued at $85,007,500. FedEx Corporation makes up approx 0.18% of California State Teachers Retirement System’s portfolio.Regentatlantic Capital reduced its stake in FDX by selling 2,167 shares or 8.58% in the most recent quarter. The Hedge Fund company now holds 23,078 shares of FDX which is valued at $3,694,095. FedEx Corporation makes up approx 0.35% of Regentatlantic Capital’s portfolio.James Investment Research Inc boosted its stake in FDX in the latest quarter, The investment management firm added 38,866 additional shares and now holds a total of 127,968 shares of FedEx Corporation which is valued at $20,572,136. FedEx Corporation makes up approx 0.51% of James Investment Research Inc’s portfolio. Atria Investments added FDX to its portfolio by purchasing 1,561 company shares during the most recent quarter which is valued at $250,416. FedEx Corporation makes up approx 0.03% of Atria Investments’s portfolio.

FedEx Corporation closed down -0.79 points or -0.49% at $159.82 with 8,76,796 shares getting traded on Thursday. Post opening the session at $160.74, the shares hit an intraday low of $158.85 and an intraday high of $160.84 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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