Fedex Corp (FDX) Holder Covey Capital Advisors LLC Has Trimmed Its Position by $15.21 Million as Shares Declined

January 20, 2018 - By Darrin Black

Investors sentiment increased to 1.07 in Q3 2017. Its up 0.06, from 1.01 in 2017Q2. It is positive, as 49 investors sold FDX shares while 378 reduced holdings. 122 funds opened positions while 336 raised stakes. 199.84 million shares or 0.13% less from 200.09 million shares in 2017Q2 were reported. Beese Fulmer Invest Mgmt invested 0.07% of its portfolio in FedEx Corporation (NYSE:FDX). Oakbrook Invs Limited Liability Corporation holds 0.16% in FedEx Corporation (NYSE:FDX) or 10,875 shares. 1,030 were reported by Kanawha Capital Mgmt Ltd. Moreover, Appleton Prtn Ma has 0.07% invested in FedEx Corporation (NYSE:FDX) for 1,745 shares. Heritage Investors Mgmt Corporation has invested 0.86% in FedEx Corporation (NYSE:FDX). Golub Grp Inc Limited Liability Corp holds 0.04% or 1,977 shares in its portfolio. 190,373 were accumulated by Menora Mivtachim Hldgs Limited. Columbia Asset Management owns 4,713 shares for 0.33% of their portfolio. Baker Boyer Commercial Bank has invested 0.67% of its portfolio in FedEx Corporation (NYSE:FDX). Bridgeway Cap Mngmt Inc invested in 0.01% or 3,100 shares. Jackson Square Prtnrs Limited holds 3.13% of its portfolio in FedEx Corporation (NYSE:FDX) for 2.86 million shares. First Natl Tru reported 3,190 shares. 2,663 were accumulated by Evercore Wealth Mngmt Limited Liability. Kames Cap Public Limited Co owns 10,727 shares. Duff And Phelps Inv Mgmt invested in 2,690 shares.

Since September 21, 2017, it had 0 insider buys, and 6 insider sales for $22.31 million activity. 6,750 shares were sold by Subramaniam Rajesh, worth $1.48 million on Thursday, September 21. BRONCZEK DAVID J also sold $11.89M worth of FedEx Corporation (NYSE:FDX) shares. Another trade for 11,150 shares valued at $2.55M was made by Maier Henry J on Thursday, October 26. Shares for $802,405 were sold by STEINER DAVID P on Friday, January 5. The insider Colleran Donald F sold $2.20 million.

Covey Capital Advisors Llc decreased its stake in Fedex Corp (FDX) by 76.55% based on its latest 2017Q3 regulatory filing with the SEC. Covey Capital Advisors Llc sold 67,605 shares as the company’s stock declined 2.24% while stock markets rallied. The institutional investor held 20,714 shares of the air freight and delivery services company at the end of 2017Q3, valued at $4.67M, down from 88,319 at the end of the previous reported quarter. Covey Capital Advisors Llc who had been investing in Fedex Corp for a number of months, seems to be less bullish one the $73.49B market cap company. The stock increased 0.79% or $2.14 during the last trading session, reaching $274.32. About 1.42 million shares traded. FedEx Corporation (NYSE:FDX) has risen 19.02% since January 20, 2017 and is uptrending. It has outperformed by 2.32% the S&P500.

More recent FedEx Corporation (NYSE:FDX) news were published by: Fool.com which released: “Is FedEx Corporation (FDX) a Buy?” on January 10, 2018. Also Fool.com published the news titled: “5 Things FedEx Corporation’s Management Wants You to Know About 2018” on December 30, 2017. Businesswire.com‘s news article titled: “FedEx Realigns Specialty Logistics and E-Commerce Solutions” with publication date: January 16, 2018 was also an interesting one.

FedEx Corporation (NYSE:FDX) Ratings Coverage

Among 37 analysts covering FedEx (NYSE:FDX), 24 have Buy rating, 1 Sell and 12 Hold. Therefore 65% are positive. FedEx has $293.0 highest and $15.50 lowest target. $225.53’s average target is -17.79% below currents $274.32 stock price. FedEx had 106 analyst reports since August 14, 2015 according to SRatingsIntel. The stock of FedEx Corporation (NYSE:FDX) earned “Buy” rating by Citigroup on Thursday, March 17. UBS upgraded the shares of FDX in report on Friday, January 5 to “Buy” rating. The stock has “Buy” rating by UBS on Wednesday, June 21. The rating was maintained by Credit Suisse on Wednesday, December 20 with “Buy”. As per Thursday, September 17, the company rating was maintained by Cowen & Co. Cowen & Co maintained the shares of FDX in report on Tuesday, August 8 with “Buy” rating. Stifel Nicolaus maintained FedEx Corporation (NYSE:FDX) rating on Thursday, January 18. Stifel Nicolaus has “Hold” rating and $289.0 target. Susquehanna maintained FedEx Corporation (NYSE:FDX) on Friday, September 18 with “Neutral” rating. The stock of FedEx Corporation (NYSE:FDX) earned “Buy” rating by Oppenheimer on Friday, October 20. The company was maintained on Wednesday, September 21 by Oppenheimer.

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