Sit Investment Associates Inc. lessened its position in shares of FedEx Co. (NYSE:FDX) by 2.8% during the fourth quarter, Holdings Channel reports. 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Salem Investment Counselors Inc. raised its stake in shares of FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares during the period. Krilogy Financial LLC raised its stake in shares of FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares during the period. Financial Engines Advisors L.L.C. bought a new stake in shares of FedEx during the 3rd quarter valued at $132,000. Massey Quick Simon & CO. LLC bought a new stake in shares of FedEx during the 3rd quarter valued at $136,000. Finally, Carroll Financial Associates Inc. raised its stake in shares of FedEx by 61.1% during the 3rd quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock valued at $140,000 after purchasing an additional 240 shares during the period. 75.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FedEx Co. (NYSE FDX) traded down $0.91 during midday trading on Wednesday, reaching $267.75. The company’s stock had a trading volume of 1,648,200 shares, compared to its average volume of 2,279,750. The company has a market cap of $71,520.00, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.60 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50. FedEx Co. has a fifty-two week low of $182.89 and a fifty-two week high of $271.39.

FedEx (NYSE:FDX) last announced 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 analyst estimates of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.80 EPS. sell-side analysts expect that FedEx Co. will post 13.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were given a dividend of $0.50 per share. The ex-dividend date was Friday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.75%. FedEx’s dividend payout ratio (DPR) is presently 18.38%.

A number of analysts recently issued reports on the company. Zacks Investment Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $297.00 price objective on the stock in a research note on Friday, January 5th. BMO Capital Markets reiterated a “buy” rating and set a $300.00 price objective on shares of FedEx in a research note on Monday. ValuEngine upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Wells Fargo & Co set a $275.00 price objective on FedEx and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Oppenheimer reiterated a “buy” rating and set a $229.00 price objective on shares of FedEx in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have issued a buy rating to the company. FedEx presently has a consensus rating of “Buy” and a consensus target price of $269.04.

In other news, COO David J. Bronczek sold 46,555 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the transaction, the chief operating officer now directly owns 48,562 shares in the company, valued at approximately $12,407,105.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the stock in a transaction dated 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 transaction, the insider now owns 36,747 shares in the company, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders have sold a total of 68,671 shares of company stock worth $17,137,160 over the last quarter. Corporate insiders own 8.45% of the company’s stock.

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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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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