Hennessy Advisors Inc. raised its position in shares of FedEx Corp. (NYSE:FDX) by 721.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,800 shares of the shipping service provider’s stock after buying an additional 101,700 shares during the period. Hennessy Advisors Inc.’s holdings in FedEx Corp. were worth $20,228,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Capital Insight Partners LLC increased its stake in shares of FedEx Corp. by 1.6% in the second quarter. Capital Insight Partners LLC now owns 16,050 shares of the shipping service provider’s stock worth $2,436,000 after buying an additional 260 shares in the last quarter. Trust Co increased its stake in shares of FedEx Corp. by 0.7% in the first quarter. Trust Co now owns 7,485 shares of the shipping service provider’s stock worth $1,218,000 after buying an additional 50 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in shares of FedEx Corp. by 3.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 64,618 shares of the shipping service provider’s stock worth $9,808,000 after buying an additional 2,210 shares in the last quarter. Washington Trust Bank increased its stake in shares of FedEx Corp. by 10.7% in the second quarter. Washington Trust Bank now owns 3,101 shares of the shipping service provider’s stock worth $471,000 after buying an additional 300 shares in the last quarter. Finally, NEXT Financial Group Inc increased its stake in shares of FedEx Corp. by 1.3% in the second quarter. NEXT Financial Group Inc now owns 4,644 shares of the shipping service provider’s stock worth $704,000 after buying an additional 59 shares in the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for FedEx Corp. (NYSE:FDX)

Shares of FedEx Corp. (NYSE:FDX) traded up 0.33% during trading on Tuesday, hitting $190.66. The stock had a trading volume of 288,323 shares. The stock has a market cap of $50.67 billion, a price-to-earnings ratio of 28.52 and a beta of 1.14. The stock’s 50-day moving average price is $178.12 and its 200 day moving average price is $166.84. FedEx Corp. has a one year low of $119.71 and a one year high of $191.84.

FedEx Corp. (NYSE:FDX) last released its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The business earned $14.70 billion during the quarter. During the same quarter in the previous year, the business posted $2.42 EPS. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts forecast that FedEx Corp. will post $12.15 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, December 8th. FedEx Corp.’s payout ratio is presently 23.99%.

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A number of research analysts recently weighed in on the company. Deutsche Bank AG assumed coverage on FedEx Corp. in a report on Thursday, November 24th. They issued a “buy” rating on the stock. Vetr cut FedEx Corp. from a “buy” rating to a “hold” rating and set a $199.16 target price on the stock. in a report on Monday. Stifel Nicolaus cut FedEx Corp. from a “buy” rating to a “hold” rating and set a $186.00 target price on the stock. in a report on Tuesday, November 15th. They noted that the move was a valuation call. BMO Capital Markets assumed coverage on FedEx Corp. in a report on Thursday, November 17th. They issued a “market perform” rating and a $190.00 target price on the stock. Finally, Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a report on Thursday, September 22nd. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $179.22.

In related news, VP John L. Merino sold 10,280 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $181.72, for a total value of $1,868,081.60. Following the completion of the sale, the vice president now owns 29,722 shares in the company, valued at $5,401,081.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Henry J. Maier sold 5,213 shares of the stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $176.65, for a total transaction of $920,876.45. Following the completion of the sale, the insider now owns 27,720 shares of the company’s stock, valued at approximately $4,896,738. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by corporate insiders.

About FedEx Corp.

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

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