Minneapolis Portfolio Management Group Lowers stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Minneapolis Portfolio Management Group reduced its stake in FedEx Corporation by 5.61% during the most recent quarter end. The investment management company now holds a total of 202,383 shares of FedEx Corporation which is valued at $32,504,734 after selling 12,023 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.FedEx Corporation makes up approximately 5.58% of Minneapolis Portfolio Management Group’s portfolio.

Other Hedge Funds, Including , Reliant Investment Management boosted its stake in FDX in the latest quarter, The investment management firm added 305 additional shares and now holds a total of 21,231 shares of FedEx Corporation which is valued at $3,409,911. FedEx Corporation makes up approx 2.97% of Reliant Investment Management’s portfolio.First Citizens Bank Trust Co reduced its stake in FDX by selling 696 shares or 14.17% in the most recent quarter. The Hedge Fund company now holds 4,217 shares of FDX which is valued at $682,732. FedEx Corporation makes up approx 0.06% of First Citizens Bank Trust Co’s portfolio.Atalanta Sosnoff Capital boosted its stake in FDX in the latest quarter, The investment management firm added 41,468 additional shares and now holds a total of 210,065 shares of FedEx Corporation which is valued at $33,801,559. FedEx Corporation makes up approx 1.10% of Atalanta Sosnoff Capital’s portfolio.Highland Capital Management reduced its stake in FDX by selling 1,841 shares or 2.86% in the most recent quarter. The Hedge Fund company now holds 62,456 shares of FDX which is valued at $9,997,332. FedEx Corporation makes up approx 0.83% of Highland Capital Management’s portfolio.

FedEx Corporation closed down -0.79 points or -0.49% at $159.82 with 8,76,796 shares getting traded on Thursday. Post opening the session at $160.74, the shares hit an intraday low of $158.85 and an intraday high of $160.84 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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