Harbour Capital Advisors Lowers stake in FedEx Corporation (FDX)

FedEx Corporation (FDX) : Harbour Capital Advisors reduced its stake in FedEx Corporation by 2.21% during the most recent quarter end. The investment management company now holds a total of 8,617 shares of FedEx Corporation which is valued at $1,501,598 after selling 195 shares in FedEx Corporation , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.FedEx Corporation makes up approximately 0.81% of Harbour Capital Advisors’s portfolio.

Other Hedge Funds, Including , Cullinan Associates Inc boosted its stake in FDX in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 17,235 shares of FedEx Corporation which is valued at $3,003,371. FedEx Corporation makes up approx 0.26% of Cullinan Associates Inc’s portfolio.

FedEx Corporation closed down -0.7 points or -0.40% at $173.6 with 14,92,742 shares getting traded on Tuesday. Post opening the session at $174.72, the shares hit an intraday low of $172.86 and an intraday high of $175.12 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, FedEx Corporation reported $2.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Sep 20, 2016. Analyst had a consensus of $2.78. The company had revenue of $14700.00 million for the quarter, compared to analysts expectations of $14440.89 million. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 EPS.

Many Wall Street Analysts have commented on FedEx Corporation. Company shares were Reiterated by Stifel on Sep 21, 2016 to “Buy”, Firm has raised the Price Target to $ 186 from a previous price target of $179 .

FedEx Corporation (FedEx) provides a portfolio of transportation e-commerce and business services under the FedEx brand. The Company offers its services through companies constituting four business segments: FedEx Express FedEx Ground FedEx Freight and FedEx Services. FedEx Express offers a range of domestic and international shipping services for delivery of packages and freight. FedEx Ground provides business and residential money-back guaranteed ground package delivery services. FedEx Freight offers less-than-truckload (LTL) freight services. FedEx Services provides FedEx’s other companies with sales marketing information technology communications customer service and certain other back-office support. The Company’s subsidiaries include Federal Express Corporation FedEx Trade Networks Inc. FedEx Ground Package System Inc. FedEx SmartPost Inc. FedEx Corporate Services Inc. and GENCO Distribution System Inc. among others.

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