Mcmillion Capital Management Inc Lowers stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Mcmillion Capital Management Inc reduced its stake in FedEx Corporation by 0.3% during the most recent quarter end. The investment management company now holds a total of 25,083 shares of FedEx Corporation which is valued at $4 Million after selling 76 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.FedEx Corporation makes up approximately 2.97% of Mcmillion Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Tower Bridge Advisors boosted its stake in FDX in the latest quarter, The investment management firm added 924 additional shares and now holds a total of 57,475 shares of FedEx Corporation which is valued at $9.1 Million. FedEx Corporation makes up approx 1.14% of Tower Bridge Advisors’s portfolio.Nikko Asset Management Americas boosted its stake in FDX in the latest quarter, The investment management firm added 1,400 additional shares and now holds a total of 3,200 shares of FedEx Corporation which is valued at $504,832. FedEx Corporation makes up approx 0.06% of Nikko Asset Management Americas’s portfolio.Johnson Financial Group boosted its stake in FDX in the latest quarter, The investment management firm added 2,371 additional shares and now holds a total of 5,637 shares of FedEx Corporation which is valued at $889,293. FedEx Corporation makes up approx 0.18% of Johnson Financial Group’s portfolio.Vsr Financial Services boosted its stake in FDX in the latest quarter, The investment management firm added 334 additional shares and now holds a total of 2,351 shares of FedEx Corporation which is valued at $378,582. FedEx Corporation makes up approx 0.04% of Vsr Financial Services’s portfolio.Great West Life Assurance Co Can boosted its stake in FDX in the latest quarter, The investment management firm added 5,293 additional shares and now holds a total of 203,037 shares of FedEx Corporation which is valued at $33.5 Million. FedEx Corporation makes up approx 0.12% of Great West Life Assurance Co Can’s portfolio.

FedEx Corporation opened for trading at $160.34 and hit $162.46 on the upside on Friday, eventually ending the session at $161.63, with a gain of 1.58% or 2.52 points. The heightened volatility saw the trading volume jump to 13,70,492 shares. Company has a market cap of $43,385 M.

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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