Hightower Advisors buys $34,091,180 stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Hightower Advisors scooped up 608 additional shares in FedEx Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 205,989 shares of FedEx Corporation which is valued at $34,091,180.FedEx Corporation makes up approximately 0.42% of Hightower Advisors’s portfolio.

Other Hedge Funds, Including , Miles Capital boosted its stake in FDX in the latest quarter, The investment management firm added 5,853 additional shares and now holds a total of 8,571 shares of FedEx Corporation which is valued at $1,418,501. FedEx Corporation makes up approx 0.93% of Miles Capital’s portfolio.Edmond De Rothschild (europe) reduced its stake in FDX by selling 700 shares or 48.28% in the most recent quarter. The Hedge Fund company now holds 750 shares of FDX which is valued at $124,125. FedEx Corporation makes up approx 0.06% of Edmond De Rothschild (europe)’s portfolio.Cable Hill Partners reduced its stake in FDX by selling 63 shares or 32.31% in the most recent quarter. The Hedge Fund company now holds 132 shares of FDX which is valued at $21,504. FedEx Corporation makes up approx 0.01% of Cable Hill Partners’s portfolio.Dumont Blake Investment Advisors reduced its stake in FDX by selling 165 shares or 2.33% in the most recent quarter. The Hedge Fund company now holds 6,925 shares of FDX which is valued at $1,112,224. FedEx Corporation makes up approx 0.55% of Dumont Blake Investment Advisors’s portfolio.

FedEx Corporation opened for trading at $169 and hit $169.44 on the upside on Tuesday, eventually ending the session at $168.59, with a gain of 0.42% or 0.7 points. The heightened volatility saw the trading volume jump to 8,50,742 shares. Company has a market cap of $44,765 M.

On the company’s financial health, FedEx Corporation reported $3.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jun 21, 2016. Analyst had a consensus of $3.28. The company had revenue of $12979.00 million for the quarter, compared to analysts expectations of $12771.21 million. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 EPS.

Many Wall Street Analysts have commented on FedEx Corporation. Company shares were Reiterated by RBC Capital Mkts on Jun 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 174 from a previous price target of $158 .Company shares were Reiterated by Stifel on Jun 22, 2016 to “Buy”, Firm has raised the Price Target to $ 179 from a previous price target of $178 .Company shares were Reiterated by UBS on Jun 3, 2016 to “Buy”, Firm has raised the Price Target to $ 187 from a previous price target of $186 .

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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