Ballentine Partners buys $13,664,382 stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Ballentine Partners scooped up 80,452 additional shares in FedEx Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 86,615 shares of FedEx Corporation which is valued at $13,664,382.FedEx Corporation makes up approximately 1.22% of Ballentine Partners’s portfolio.

Other Hedge Funds, Including , Mengis Capital Management added FDX to its portfolio by purchasing 1,860 company shares during the most recent quarter which is valued at $293,434. FedEx Corporation makes up approx 0.27% of Mengis Capital Management’s portfolio.Sandy Spring Bank reduced its stake in FDX by selling 424 shares or 12.88% in the most recent quarter. The Hedge Fund company now holds 2,868 shares of FDX which is valued at $461,834. FedEx Corporation makes up approx 0.05% of Sandy Spring Bank’s portfolio.Evergreen Capital Management boosted its stake in FDX in the latest quarter, The investment management firm added 375 additional shares and now holds a total of 17,490 shares of FedEx Corporation which is valued at $2,816,415. FedEx Corporation makes up approx 0.62% of Evergreen Capital Management’s portfolio.Security National Trust Co reduced its stake in FDX by selling 135 shares or 3.88% in the most recent quarter. The Hedge Fund company now holds 3,340 shares of FDX which is valued at $551,467. FedEx Corporation makes up approx 0.21% of Security National Trust Co’s portfolio. Darrell King added FDX to its portfolio by purchasing 159,618 company shares during the most recent quarter which is valued at $26,354,528. FedEx Corporation makes up approx 5.04% of Darrell King’s portfolio.

FedEx Corporation closed down -1.61 points or -1.01% at $157.76 with 13,22,242 shares getting traded on Friday. Post opening the session at $158.58, the shares hit an intraday low of $156.92 and an intraday high of $159.39 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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