FedEx Co. (NYSE:FDX) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. lowered its position in shares of FedEx Co. (NYSE:FDX) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,370 shares of the shipping service provider’s stock after selling 2,990 shares during the quarter. Sit Investment Associates Inc.’s holdings in FedEx were worth $25,545,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in FedEx by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after buying an additional 492,840 shares in the last quarter. FMR LLC grew its holdings in FedEx by 0.3% in the 2nd quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after buying an additional 15,382 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in FedEx by 7.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after buying an additional 266,660 shares in the last quarter. Capital World Investors grew its holdings in FedEx by 16.1% in the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after buying an additional 501,617 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in FedEx by 3.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock worth $814,875,000 after buying an additional 116,500 shares in the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.

FedEx Co. (NYSE FDX) traded down $2.27 during mid-day trading on Wednesday, reaching $269.58. The company had a trading volume of 1,668,500 shares, compared to its average volume of 1,998,680. FedEx Co. has a fifty-two week low of $182.89 and a fifty-two week high of $273.16. The firm has a market capitalization of $72,420.00, a P/E ratio of 24.78, a PEG ratio of 1.62 and a beta of 1.36. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.29. The business had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $2.80 earnings per share. research analysts predict that FedEx Co. will post 13.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, December 8th. FedEx’s dividend payout ratio is 18.38%.

In other news, insider Henry J. Maier sold 11,150 shares of FedEx stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the transaction, the insider now owns 36,747 shares in the company, valued at $8,395,219.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David P. Steiner sold 3,016 shares of FedEx stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $266.05, for a total transaction of $802,406.80. Following the completion of the transaction, the director now owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,671 shares of company stock valued at $17,137,160. Corporate insiders own 8.45% of the company’s stock.

A number of equities analysts have issued reports on the company. Bank of America reissued a “buy” rating and set a $315.00 price objective on shares of FedEx in a research note on Friday, January 12th. Zacks Investment Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $297.00 target price for the company in a report on Friday, January 5th. BMO Capital Markets restated a “buy” rating and issued a $300.00 target price on shares of FedEx in a report on Monday, January 8th. Oppenheimer restated a “buy” rating and issued a $229.00 target price on shares of FedEx in a report on Wednesday, September 20th. Finally, Wells Fargo & Co set a $275.00 price objective on FedEx and gave the stock a “buy” rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $269.95.

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FedEx Company Profile

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.

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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