Franklin Resources Inc. Raises Holdings in FedEx Corporation (FDX)

Franklin Resources Inc. raised its stake in FedEx Corporation (NYSE:FDX) by 48.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 438,319 shares of the shipping service provider’s stock after acquiring an additional 143,585 shares during the period. Franklin Resources Inc. owned 0.16% of FedEx Corporation worth $95,259,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FDX. FNY Managed Accounts LLC acquired a new position in FedEx Corporation in the first quarter valued at approximately $100,000. Riggs Asset Managment Co. Inc. boosted its stake in FedEx Corporation by 163.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after acquiring an additional 300 shares during the period. Cribstone Capital Management LLC boosted its stake in FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after acquiring an additional 6 shares during the period. Alexandria Capital LLC boosted its stake in FedEx Corporation by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares during the period. Finally, Hefty Wealth Partners boosted its stake in FedEx Corporation by 26.0% in the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after acquiring an additional 130 shares during the period. Institutional investors own 75.88% of the company’s stock.

FedEx Corporation (NYSE FDX) opened at 220.10 on Wednesday. The firm has a 50 day moving average price of $217.90 and a 200 day moving average price of $206.26. The company has a market cap of $59.02 billion, a PE ratio of 20.75 and a beta of 1.31. FedEx Corporation has a 12-month low of $168.00 and a 12-month high of $227.00.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. During the same period in the previous year, the business posted $2.90 earnings per share. FedEx Corporation’s revenue was up 4.1% compared to the same quarter last year. On average, analysts anticipate that FedEx Corporation will post $12.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.91%. FedEx Corporation’s payout ratio is presently 18.87%.

In other FedEx Corporation news, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares in the company, valued at $12,059,712.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,172 shares of company stock worth $6,039,193. Insiders own 8.45% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Franklin Resources Inc. Raises Holdings in FedEx Corporation (FDX)” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/18/franklin-resources-inc-raises-holdings-in-fedex-corporation-fdx.html.

FDX has been the subject of a number of research reports. Vetr downgraded FedEx Corporation to a “sell” rating and set a $204.84 target price for the company. in a research note on Thursday, August 31st. J P Morgan Chase & Co restated an “overweight” rating and issued a $237.00 target price on shares of FedEx Corporation in a research note on Wednesday, June 21st. Credit Suisse Group lifted their target price on FedEx Corporation from $225.00 to $237.00 and gave the company an “outperform” rating in a research note on Wednesday, June 21st. Cowen and Company restated an “outperform” rating and issued a $240.00 target price on shares of FedEx Corporation in a research note on Wednesday, June 21st. Finally, Robert W. Baird restated a “buy” rating and issued a $235.00 target price on shares of FedEx Corporation in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, five have i

A number of other hedge funds also recently modified their holdings of FDX. FNY Managed Accounts LLC acquired a new position in FedEx Corporation in the first quarter valued at approximately $100,000. Riggs Asset Managment Co. Inc. boosted its stake in FedEx Corporation by 163.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after acquiring an additional 300 shares during the period. Cribstone Capital Management LLC boosted its stake in FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after acquiring an additional 6 shares during the period. Alexandria Capital LLC boosted its stake in FedEx Corporation by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares during the period. Finally, Hefty Wealth Partners boosted its stake in FedEx Corporation by 26.0% in the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after acquiring an additional 130 shares during the period. Institutional investors own 75.88% of the company’s stock.

FedEx Corporation (NYSE FDX) opened at 220.10 on Wednesday. The firm has a 50 day moving average price of $217.90 and a 200 day moving average price of $206.26. The company has a market cap of $59.02 billion, a PE ratio of 20.75 and a beta of 1.31. FedEx Corporation has a 12-month low of $168.00 and a 12-month high of $227.00.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. During the same period in the previous year, the business posted $2.90 earnings per share. FedEx Corporation’s revenue was up 4.1% compared to the same quarter last year. On average, analysts anticipate that FedEx Corporation will post $12.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.91%. FedEx Corporation’s payout ratio is presently 18.87%.

In other FedEx Corporation news, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares in the company, valued at $12,059,712.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,172 shares of company stock worth $6,039,193. Insiders own 8.45% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Franklin Resources Inc. Raises Holdings in FedEx Corporation (FDX)” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/18/franklin-resources-inc-raises-holdings-in-fedex-corporation-fdx.html.

FDX has been the subject of a number of research reports. Vetr downgraded FedEx Corporation to a “sell” rating and set a $204.84 target price for the company. in a research note on Thursday, August 31st. J P Morgan Chase & Co restated an “overweight” rating and issued a $237.00 target price on shares of FedEx Corporation in a research note on Wednesday, June 21st. Credit Suisse Group lifted their target price on FedEx Corporation from $225.00 to $237.00 and gave the company an “outperform” rating in a research note on Wednesday, June 21st. Cowen and Company restated an “outperform” rating and issued a $240.00 target price on shares of FedEx Corporation in a research note on Wednesday, June 21st. Finally, Robert W. Baird restated a “buy” rating and issued a $235.00 target price on shares of FedEx Corporation in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $228.26.

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.

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

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