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

Norway Savings Bank lessened its position in shares of FedEx Co. (NYSE:FDX) by 14.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,360 shares of the shipping service provider’s stock after selling 755 shares during the quarter. Norway Savings Bank’s holdings in FedEx were worth $1,263,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asio Capital LLC increased its stake in shares of FedEx by 1.3% in the 1st quarter. Asio Capital LLC now owns 30,741 shares of the shipping service provider’s stock valued at $8,945,000 after purchasing an additional 406 shares in the last quarter. Tevis Investment Management increased its position in shares of FedEx by 43.5% in the first quarter. Tevis Investment Management now owns 1,340 shares of the shipping service provider’s stock valued at $388,000 after buying an additional 406 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of FedEx during the 1st quarter valued at approximately $277,000. Buckley Wealth Management LLC lifted its position in shares of FedEx by 1.5% during the 1st quarter. Buckley Wealth Management LLC now owns 3,805 shares of the shipping service provider’s stock valued at $1,102,000 after buying an additional 55 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in FedEx by 4.1% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,522 shares of the shipping service provider’s stock valued at $441,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $299.84 on Friday. The stock has a fifty day simple moving average of $258.10 and a 200-day simple moving average of $256.48. The company has a current ratio of 1.36, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73. The stock has a market cap of $73.78 billion, a PE ratio of 17.40, a P/E/G ratio of 1.09 and a beta of 1.16. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $302.41.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same quarter last year, the firm posted $4.94 earnings per share. FedEx’s revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that FedEx Co. will post 20.51 earnings per share for the current year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio is 32.04%.

FedEx announced that its board has initiated a share repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FDX shares. Morgan Stanley increased their price objective on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $325.00 price target on shares of FedEx in a research note on Wednesday. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $296.00 to $359.00 in a research note on Wednesday. BMO Capital Markets raised their target price on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Finally, Evercore ISI lowered their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.00.

Insider Transactions at FedEx

In related news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the transaction, the director now owns 14,745 shares in the company, valued at $4,345,646.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The disclosure for this sale can be found here. Insiders sold a total of 119,810 shares of company stock worth $32,924,413 over the last ninety days. Company insiders own 8.73% of the company’s stock.

FedEx 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.