Bangor Savings Bank Reduces Stock Position in FedEx Co. (NYSE:FDX)

Bangor Savings Bank reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,737 shares of the shipping service provider’s stock after selling 492 shares during the quarter. Bangor Savings Bank’s holdings in FedEx were worth $1,844,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Capital International Investors grew its holdings in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Sentry LLC acquired a new position in FedEx in the fourth quarter worth about $307,007,000. Vanguard Group Inc. increased its holdings in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares during the last quarter. Putnam Investments LLC raised its stake in FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted its holdings in FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after buying an additional 684,679 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FDX shares. BMO Capital Markets lowered their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. StockNews.com downgraded shares of FedEx from a “buy” rating to a “hold” rating in a research report on Sunday. Bank of America lowered their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company raised their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Finally, Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $215.00 to $200.00 in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $314.74.

FedEx Price Performance

Shares of NYSE:FDX opened at $260.50 on Tuesday. The stock’s 50 day moving average price is $284.62 and its 200 day moving average price is $276.05. 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 stock has a market cap of $64.10 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.04 and a beta of 1.17. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the company earned $4.55 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.12%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Buying and Selling at FedEx

In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Marvin R. Ellison sold 2,535 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $299.34, for a total transaction of $758,826.90. Following the sale, the director now owns 6,955 shares in the company, valued at $2,081,909.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,914 shares of company stock valued at $3,978,338. Corporate insiders own 8.73% of the company’s stock.

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.