Southpoint Capital Advisors LP Decreased Stake in Fedex Corp (FDX) by $11.03 Million as Stock Declined

December 14, 2017 - By Stephen Andrade

Investors sentiment decreased to 1.01 in Q2 2017. Its down 0.02, from 1.03 in 2017Q1. It fall, as 53 investors sold FDX shares while 373 reduced holdings. 112 funds opened positions while 318 raised stakes. 200.09 million shares or 0.41% less from 200.92 million shares in 2017Q1 were reported. Teacher Retirement System Of Texas has invested 0% in FedEx Corporation (NYSE:FDX). Cedar Hill Associates Ltd Liability Corporation reported 65,572 shares. Meeder Asset Management has invested 0.09% in FedEx Corporation (NYSE:FDX). 619,400 were reported by State Common Retirement Fund. Goldman Sachs Gp Incorporated reported 1.75M shares. Salem Counselors Inc invested in 479 shares or 0.01% of the stock. Comerica Secs invested in 2,992 shares. Mcmillion Capital Mgmt Inc holds 24,325 shares. Pictet Asset Mngmt reported 129,669 shares. State Board Of Administration Of Florida Retirement System reported 360,287 shares. Metropolitan Life Insur Ny stated it has 128,973 shares or 0.19% of all its holdings. Two Sigma Limited Liability has invested 0.2% in FedEx Corporation (NYSE:FDX). Numeric Limited Liability has invested 0% of its portfolio in FedEx Corporation (NYSE:FDX). Royal Comml Bank Of Scotland Gp Public Ltd Co stated it has 26,630 shares or 1.34% of all its holdings. Capital Impact Advsr Lc holds 1.09% or 11,010 shares in its portfolio.

Since September 21, 2017, it had 0 insider buys, and 4 insider sales for $9.61 million activity. Maier Henry J sold $2.55 million worth of stock or 11,150 shares. 14,964 shares were sold by DUCKER MICHAEL L, worth $3.38M. The insider Colleran Donald F sold 10,000 shares worth $2.20M.

Rob Butts decreased its stake in Fedex Corp (FDX) by 6.77% based on its latest 2017Q2 regulatory filing with the SEC. Southpoint Capital Advisors Lp sold 50,818 shares as the company’s stock declined 2.24% while stock markets rallied. The hedge fund run by Rob Butts held 700,000 shares of the air freight and delivery services company at the end of 2017Q2, valued at $152.13 million, down from 750,818 at the end of the previous reported quarter. Southpoint Capital Advisors Lp who had been investing in Fedex Corp for a number of months, seems to be less bullish one the $64.09 billion market cap company. The stock decreased 1.25% or $3.03 during the last trading session, reaching $238.99. About 1.03M shares traded. FedEx Corporation (NYSE:FDX) has risen 19.02% since December 14, 2016 and is uptrending. It has outperformed by 2.32% the S&P500.

Southpoint Capital Advisors Lp, which manages about $2.99 billion and $2.53B US Long portfolio, upped its stake in Genworth Finl Inc (NYSE:GNW) by 3.89 million shares to 10.00M shares, valued at $37.70 million in 2017Q2, according to the filing. It also increased its holding in Sps Comm Inc (NASDAQ:SPSC) by 351,103 shares in the quarter, for a total of 750,000 shares, and has risen its stake in Manitowoc Inc (NYSE:MTW).

Analysts await FedEx Corporation (NYSE:FDX) to report earnings on December, 19 after the close. They expect $2.86 earnings per share, up 2.14 % or $0.06 from last year’s $2.8 per share. FDX’s profit will be $766.91 million for 20.89 P/E if the $2.86 EPS becomes a reality. After $2.51 actual earnings per share reported by FedEx Corporation for the previous quarter, Wall Street now forecasts 13.94 % EPS growth.

More important recent FedEx Corporation (NYSE:FDX) news were published by: Nasdaq.com which released: “FedEx Corporation (FDX) Ex-Dividend Date Scheduled for December 08, 2017” on December 07, 2017, also Seekingalpha.com published article titled: “FedEx – Low Yield, Strong Growth”, Benzinga.com published: “With Fed’s Likely Rate Hike Widely Anticipated, Attention Turns To Yellen’s Words” on December 13, 2017. More interesting news about FedEx Corporation (NYSE:FDX) was released by: Fool.com and their article: “Here’s How FedEx Corporation Crushed It in 2017” with publication date: December 11, 2017.

FedEx Corporation (NYSE:FDX) Ratings Coverage

Among 37 analysts covering FedEx (NYSE:FDX), 23 have Buy rating, 1 Sell and 13 Hold. Therefore 62% are positive. FedEx had 92 analyst reports since August 14, 2015 according to SRatingsIntel. Stifel Nicolaus maintained the stock with “Hold” rating in Monday, August 14 report. On Monday, February 22 the stock rating was maintained by Stifel Nicolaus with “Buy”. The company was maintained on Thursday, September 17 by Oppenheimer. The stock of FedEx Corporation (NYSE:FDX) earned “Buy” rating by Deutsche Bank on Wednesday, November 2. The stock of FedEx Corporation (NYSE:FDX) has “Overweight” rating given on Tuesday, December 13 by JP Morgan. The stock of FedEx Corporation (NYSE:FDX) earned “Buy” rating by Standpoint Research on Wednesday, January 20. The rating was maintained by Stifel Nicolaus on Thursday, June 2 with “Buy”. Barclays Capital maintained it with “Buy” rating and $270.0 target in Thursday, November 30 report. Standpoint Research downgraded the shares of FDX in report on Thursday, March 17 to “Hold” rating. UBS maintained FedEx Corporation (NYSE:FDX) on Wednesday, June 21 with “Buy” rating.

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