Norway Savings Bank Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

Norway Savings Bank lessened its holdings in FedEx Co. (NYSE:FDX) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,645 shares of the shipping service provider’s stock after selling 65 shares during the quarter. Norway Savings Bank’s holdings in FedEx were worth $1,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FDX. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in FedEx during the first quarter worth approximately $1,667,000. Allegheny Financial Group LTD purchased a new stake in shares of FedEx during the 1st quarter worth approximately $203,000. Hilltop National Bank acquired a new position in shares of FedEx in the 1st quarter valued at $476,000. Csenge Advisory Group grew its position in shares of FedEx by 14.9% in the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after buying an additional 298 shares during the last quarter. Finally, Czech National Bank raised its stake in FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after acquiring an additional 2,767 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FDX shares. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. UBS Group decreased their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. Argus lifted their target price on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, Wells Fargo & Company increased their price target on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Price Performance

Shares of NYSE FDX traded up $0.70 during midday trading on Tuesday, hitting $268.15. The company had a trading volume of 507,216 shares, compared to its average volume of 1,850,603. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $280.77 and a two-hundred day simple moving average of $275.24. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The firm has a market capitalization of $65.99 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the firm posted $4.55 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts anticipate that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Buying and Selling

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.73% of the company’s stock.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.