Malaga Cove Capital Lowers stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Malaga Cove Capital reduced its stake in FedEx Corporation by 0.53% during the most recent quarter end. The investment management company now holds a total of 39,461 shares of FedEx Corporation which is valued at $6,515,406 after selling 211 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.FedEx Corporation makes up approximately 5.28% of Malaga Cove Capital’s portfolio.

FedEx Corporation opened for trading at $165.6 and hit $168.1799 on the upside on Monday, eventually ending the session at $167.59, with a gain of 1.50% or 2.48 points. The heightened volatility saw the trading volume jump to 13,93,131 shares. Company has a market cap of $44,985 M.

Other Hedge Funds, Including , Oppenheimer Co Inc reduced its stake in FDX by selling 11,296 shares or 40.66% in the most recent quarter. The Hedge Fund company now holds 16,484 shares of FDX which is valued at $2,721,673. FedEx Corporation makes up approx 0.08% of Oppenheimer Co Inc’s portfolio.Duncker Streett Co Inc boosted its stake in FDX in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 246 shares of FedEx Corporation which is valued at $40,617. FedEx Corporation makes up approx 0.01% of Duncker Streett Co Inc’s portfolio.Private Capital Management Inc reduced its stake in FDX by selling 400 shares or 6.25% in the most recent quarter. The Hedge Fund company now holds 6,000 shares of FDX which is valued at $997,920. FedEx Corporation makes up approx 0.89% of Private Capital Management Inc’s portfolio.New York State Teachers Retirement System reduced its stake in FDX by selling 7,221 shares or 1.47% in the most recent quarter. The Hedge Fund company now holds 485,288 shares of FDX which is valued at $80,713,100. FedEx Corporation makes up approx 0.21% of New York State Teachers Retirement System’s portfolio.North American Management Corp reduced its stake in FDX by selling 2,740 shares or 39.34% in the most recent quarter. The Hedge Fund company now holds 4,225 shares of FDX which is valued at $700,928. FedEx Corporation makes up approx 0.11% of North American Management Corp’s portfolio.

On the company’s financial health, FedEx Corporation reported $2.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Mar 16, 2016. Analyst had a consensus of $2.35. The company had revenue of $12654.00 million for the quarter, compared to analysts expectations of $12376.86 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.01 EPS.

Many Wall Street Analysts have commented on FedEx Corporation. Company shares were Reiterated by Cowen on Mar 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 180 from a previous price target of $175 .Company shares were Reiterated by RBC Capital Mkts on Mar 17, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 158 from a previous price target of $153 .Company shares were Reiterated by Stifel on Mar 17, 2016 to “Buy”, Firm has raised the Price Target to $ 174 from a previous price target of $171 .

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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