Impala Asset Management buys $52,901,802 stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Impala Asset Management scooped up 82,228 additional shares in FedEx Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 287,995 shares of FedEx Corporation which is valued at $52,901,802.FedEx Corporation makes up approximately 3.38% of Impala Asset Management’s portfolio.

Other Hedge Funds, Including , Johnson Financial Group boosted its stake in FDX in the latest quarter, The investment management firm added 577 additional shares and now holds a total of 6,779 shares of FedEx Corporation which is valued at $1,261,979. FedEx Corporation makes up approx 0.17% of Johnson Financial Group’s portfolio.Carret Asset Management boosted its stake in FDX in the latest quarter, The investment management firm added 230 additional shares and now holds a total of 20,092 shares of FedEx Corporation which is valued at $3,688,288. FedEx Corporation makes up approx 0.70% of Carret Asset Management’s portfolio. Giovine Capital Group added FDX to its portfolio by purchasing 11,891 company shares during the most recent quarter which is valued at $2,154,292. FedEx Corporation makes up approx 2.96% of Giovine Capital Group’s portfolio.Integrated Wealth Management boosted its stake in FDX in the latest quarter, The investment management firm added 124 additional shares and now holds a total of 4,945 shares of FedEx Corporation which is valued at $839,167. FedEx Corporation makes up approx 0.32% of Integrated Wealth Management’s portfolio.

FedEx Corporation opened for trading at $184.71 and hit $187.33 on the upside on Monday, eventually ending the session at $187.29, with a gain of 1.19% or 2.21 points. The heightened volatility saw the trading volume jump to 13,34,442 shares. Company has a market cap of $49,774 M.

On the company’s financial health, FedEx Corporation reported $2.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Sep 20, 2016. Analyst had a consensus of $2.78. The company had revenue of $14700.00 million for the quarter, compared to analysts expectations of $14440.89 million. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 EPS.

Investors should note that on Nov 18, 2016, FedEx Corporation announced a cash dividend of $0.4000. The company’s management has announced Dec 8, 2016 as the ex-dividend date and fixed the record date on Dec 12, 2016. The payable date has been fixed on Jan 3, 2017.

Many Wall Street Analysts have commented on FedEx Corporation. Stifel Downgraded FedEx Corporation on Nov 15, 2016 to ” Hold”, Price Target of the shares are set at $186.Company shares were Reiterated by Stifel on Sep 21, 2016 to “Buy”, Firm has raised the Price Target to $ 186 from a previous price target of $179 .

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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