Greenfield Savings Bank Cuts Holdings in FedEx Co. (NYSE:FDX)

Greenfield Savings Bank reduced its position in FedEx Co. (NYSE:FDXFree Report) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,260 shares of the shipping service provider’s stock after selling 244 shares during the period. Greenfield Savings Bank’s holdings in FedEx were worth $365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Scarborough Advisors LLC bought a new position in shares of FedEx during the 4th quarter valued at approximately $25,000. Fortis Group Advisors LLC lifted its holdings in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in shares of FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in FedEx in the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. purchased a new position in FedEx during the fourth quarter worth $30,000. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at approximately $140,507.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares in the company, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock worth $37,758,773 in the last 90 days. 8.73% of the stock is owned by corporate insiders.

FedEx Stock Up 0.5 %

FedEx stock traded up $1.15 during mid-day trading on Friday, reaching $253.67. 3,142,467 shares of the company were exchanged, compared to its average volume of 1,803,030. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The firm has a market cap of $62.42 billion, a P/E ratio of 14.63, a PEG ratio of 0.90 and a beta of 1.16. The business has a fifty day moving average of $256.50 and a 200 day moving average of $256.06. FedEx Co. has a 12-month low of $224.40 and a 12-month high of $291.27.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.41 EPS. Research analysts anticipate that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

FedEx declared that its Board of Directors has authorized a stock buyback program on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is presently 29.07%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FDX. BNP Paribas reissued an “underperform” rating and issued a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. JPMorgan Chase & Co. reduced their price objective on shares of FedEx from $301.00 to $296.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. The Goldman Sachs Group increased their price target on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Jefferies Financial Group raised their price target on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $301.92.

Read Our Latest Stock Analysis on FedEx

FedEx Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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