FedEx Co. (NYSE:FDX) Shares Sold by Norway Savings Bank

Norway Savings Bank lowered its stake in shares of FedEx Co. (NYSE:FDX) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,345 shares of the shipping service provider’s stock after selling 300 shares during the quarter. Norway Savings Bank’s holdings in FedEx were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Evermay Wealth Management LLC lifted its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx during the 3rd quarter worth $31,000. Abound Wealth Management increased its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx in the third quarter valued at about $47,000. Finally, Sachetta LLC boosted its stake in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 0.8 %

FDX stock traded up $2.11 during trading on Tuesday, reaching $276.08. 975,823 shares of the stock traded hands, compared to its average volume of 1,247,885. The firm has a market capitalization of $67.45 billion, a PE ratio of 17.03, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The business’s 50 day moving average price is $283.83 and its 200-day moving average price is $284.39. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.99 earnings per share. As a group, sell-side analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. FedEx’s dividend payout ratio (DPR) is 34.05%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FDX. Robert W. Baird decreased their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Bank of America raised their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Stifel Nicolaus raised their price target on FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $324.96.

Insider Activity at FedEx

In other news, Director Amy B. Lane purchased 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.87% of the stock is owned by insiders.

About FedEx

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.