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

Bangor Savings Bank cut its stake in FedEx Co. (NYSE:FDX) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,603 shares of the shipping service provider’s stock after selling 134 shares during the period. Bangor Savings Bank’s holdings in FedEx were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in FDX. Oliver Luxxe Assets LLC grew its holdings in FedEx by 2.2% in the 4th quarter. Oliver Luxxe Assets LLC now owns 17,617 shares of the shipping service provider’s stock valued at $4,956,000 after buying an additional 378 shares in the last quarter. CWA Asset Management Group LLC boosted its position in shares of FedEx by 52.2% during the 4th quarter. CWA Asset Management Group LLC now owns 6,563 shares of the shipping service provider’s stock valued at $1,846,000 after acquiring an additional 2,251 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of FedEx by 2.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,125 shares of the shipping service provider’s stock valued at $1,160,000 after purchasing an additional 100 shares during the period. Waller Financial Planning Group Inc. acquired a new stake in FedEx during the fourth quarter worth about $233,000. Finally, GAMMA Investing LLC raised its stake in FedEx by 9.1% during the fourth quarter. GAMMA Investing LLC now owns 2,981 shares of the shipping service provider’s stock worth $839,000 after purchasing an additional 248 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FDX. Raymond James upped their price objective on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Citigroup upped their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group cut their price objective on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and upped their target price for the company from $288.00 to $365.00 in a research report on Friday, December 20th. Finally, TD Cowen lifted their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $324.88.

Insider Activity

In other news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.87% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $273.86 on Tuesday. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market cap of $65.96 billion, a P/E ratio of 16.89, a PEG ratio of 1.17 and a beta of 1.20. The firm has a fifty day moving average price of $283.83 and a 200 day moving average price of $284.39.

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

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders 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 annualized dividend and a dividend yield of 2.02%. FedEx’s dividend payout ratio is presently 35.18%.

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.