Norway Savings Bank Sells 300 Shares of FedEx Co. (NYSE:FDX)

Norway Savings Bank reduced its position in FedEx Co. (NYSE:FDX) by 6.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,345 shares of the shipping service provider’s stock after selling 300 shares during the period. Norway Savings Bank’s holdings in FedEx were worth $1,222,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of FDX. Birch Capital Management LLC increased its position in shares of FedEx by 161.3% during the fourth quarter. Birch Capital Management LLC now owns 15,549 shares of the shipping service provider’s stock worth $4,374,000 after purchasing an additional 9,599 shares in the last quarter. Oliver Luxxe Assets LLC increased its position in FedEx by 2.2% during 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 raised its stake in FedEx by 52.2% in the fourth quarter. CWA Asset Management Group LLC now owns 6,563 shares of the shipping service provider’s stock valued at $1,846,000 after buying an additional 2,251 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in 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 worth $1,160,000 after acquiring an additional 100 shares in the last quarter. Finally, Waller Financial Planning Group Inc. purchased a new stake in shares of FedEx during the fourth quarter worth about $233,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FDX. Wells Fargo & Company lifted their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. TD Cowen lifted their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Evercore ISI dropped their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Bernstein Bank raised their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $324.96.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane purchased 333 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.87% of the company’s stock.

FedEx Trading Up 0.8 %

NYSE:FDX traded up $2.11 on Tuesday, hitting $276.08. The stock had a trading volume of 975,823 shares, compared to its average volume of 1,247,885. The company has a fifty day moving average price of $283.83 and a two-hundred day moving average price of $284.39. The stock has a market cap of $67.45 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.18 and a beta of 1.18. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.99 earnings per share. Equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

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

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.