CrestPoint Capital Management LLC Has $674,000 Position in FedEx Corporation (NYSE:FDX)

CrestPoint Capital Management LLC maintained its stake in FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent filing with the SEC. The fund owned 3,100 shares of the shipping service provider’s stock at the end of the second quarter. CrestPoint Capital Management LLC’s holdings in FedEx Corporation were worth $674,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FDX. Northwestern Mutual Wealth Management Co. boosted its stake in FedEx Corporation by 2.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock valued at $13,641,000 after buying an additional 1,852 shares during the period. Quantitative Systematic Strategies LLC boosted its stake in FedEx Corporation by 354.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 13,026 shares of the shipping service provider’s stock valued at $2,542,000 after buying an additional 10,159 shares during the period. Madison Investment Holdings Inc. boosted its stake in FedEx Corporation by 63.6% in the first quarter. Madison Investment Holdings Inc. now owns 181,250 shares of the shipping service provider’s stock valued at $35,371,000 after buying an additional 70,436 shares during the period. ING Groep NV boosted its stake in FedEx Corporation by 245.5% in the first quarter. ING Groep NV now owns 17,525 shares of the shipping service provider’s stock valued at $3,420,000 after buying an additional 12,453 shares during the period. Finally, Webster Bank N. A. boosted its stake in FedEx Corporation by 20.3% in the first quarter. Webster Bank N. A. now owns 2,154 shares of the shipping service provider’s stock valued at $420,000 after buying an additional 364 shares during the period. Institutional investors own 76.36% of the company’s stock.

FedEx Corporation (NYSE FDX) traded up 0.65% during mid-day trading on Friday, reaching $204.87. 1,136,569 shares of the company’s stock traded hands. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99. The stock has a market capitalization of $54.96 billion, a PE ratio of 18.51 and a beta of 1.27. The firm’s 50-day moving average price is $212.82 and its 200 day moving average price is $198.62.

FedEx Corporation (NYSE:FDX) last issued its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, topping the consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. FedEx Corporation’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the business earned $3.30 earnings per share. Equities research analysts predict that FedEx Corporation will post $13.58 EPS for the current year.

TRADEMARK VIOLATION WARNING: “CrestPoint Capital Management LLC Has $674,000 Position in FedEx Corporation (NYSE:FDX)” was originally published by BNB Daily and is the sole property of of BNB Daily. If you are accessing this report on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The correct version of this report can be read at https://www.baseball-news-blog.com/2017/08/13/crestpoint-capital-management-llc-has-674000-position-in-fedex-corporation-nysefdx-updated-updated-updated.html.

Several analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of FedEx Corporation from $194.00 to $216.00 and gave the company a “hold” rating in a research note on Monday, June 12th. Vetr cut shares of FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 price objective for the company. in a research note on Monday, June 26th. BidaskClub cut shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. raised their price objective on shares of FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a research note on Thursday, June 15th. Finally, Zacks Investment Research cut shares of FedEx Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $221.78.

In other news, EVP Robert B. Carter sold 24,522 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $210.96, for a total value of $5,173,161.12. Following the completion of the sale, the executive vice president now directly owns 68,556 shares in the company, valued at $14,462,573.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $211.00, for a total value of $3,706,215.00. Following the completion of the sale, the chief executive officer now owns 29,148 shares of the company’s stock, valued at $6,150,228. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,757 shares of company stock valued at $16,447,426. Company insiders own 8.67% of the company’s stock.

About FedEx Corporation

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

Receive News & Ratings for FedEx Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply