Sit Investment Associates Inc. Has $23.77 Million Holdings in FedEx Corporation (FDX)

Sit Investment Associates Inc. lessened its holdings in FedEx Corporation (NYSE:FDX) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,360 shares of the shipping service provider’s stock after selling 14,935 shares during the quarter. Sit Investment Associates Inc.’s holdings in FedEx Corporation were worth $23,767,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Krilogy Financial LLC increased its holdings in FedEx Corporation by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the period. Cribstone Capital Management LLC boosted its stake in shares of FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after purchasing an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of FedEx Corporation by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock valued at $184,000 after purchasing an additional 9 shares in the last quarter. Park National Corp OH boosted its stake in shares of FedEx Corporation by 0.9% in the 2nd quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock valued at $256,000 after purchasing an additional 10 shares in the last quarter. Finally, Alexandria Capital LLC boosted its stake in shares of FedEx Corporation by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after purchasing an additional 13 shares in the last quarter. 76.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FedEx Corporation (NYSE:FDX) opened at $217.91 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. The company has a market capitalization of $57,504.27, a PE ratio of 18.01, a PEG ratio of 1.35 and a beta of 1.37. FedEx Corporation has a 52 week low of $182.89 and a 52 week high of $231.35.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $2.90 earnings per share. sell-side analysts predict that FedEx Corporation will post 12.47 earnings per share for the current year.

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein set a $212.00 target price on shares of FedEx Corporation and gave the company a “hold” rating in a research note on Wednesday. The Goldman Sachs Group, Inc. assumed coverage on shares of FedEx Corporation in a research note on Monday. They issued a “buy” rating and a $270.00 target price on the stock. Zacks Investment Research upgraded shares of FedEx Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $236.00 target price on shares of FedEx Corporation in a research note on Friday, October 20th. Finally, Cowen and Company restated an “outperform” rating and issued a $240.00 target price on shares of FedEx Corporation in a research note on Friday, October 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $230.21.

In other news, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the sale, the director now directly owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at $6,709,780. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is currently owned by company insiders.

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About FedEx Corporation

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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Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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