Community Bank N.A. Sells 900 Shares of FedEx Co. (NYSE:FDX)

Community Bank N.A. trimmed its stake in FedEx Co. (NYSE:FDX) by 70.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 380 shares of the shipping service provider’s stock after selling 900 shares during the quarter. Community Bank N.A.’s holdings in FedEx were worth $96,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after buying an additional 59,161 shares in the last quarter. Sentry LLC acquired a new position in shares of FedEx in the 4th quarter valued at about $1,811,748,000. FMR LLC lifted its stake in shares of FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares during the period. Morgan Stanley raised its stake in FedEx by 1.1% during the 3rd quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock worth $857,860,000 after buying an additional 35,085 shares during the period. Finally, Invesco Ltd. raised its stake in shares of FedEx by 13.6% in the third quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock worth $796,042,000 after purchasing an additional 360,680 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FDX. TD Cowen upped their target price on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Evercore ISI increased their price objective on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. UBS Group increased their price objective on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and issued a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. Finally, Stifel Nicolaus lowered their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Stock Down 0.3 %

FDX stock traded down $0.78 during midday trading on Thursday, hitting $265.29. The company’s stock had a trading volume of 493,580 shares, compared to its average volume of 2,036,336. The firm has a market capitalization of $65.28 billion, a P/E ratio of 15.35, a PEG ratio of 1.28 and a beta of 1.21. The firm has a 50-day simple moving average of $261.03 and a 200-day simple moving average of $254.36. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the business posted $3.41 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.90%. FedEx’s dividend payout ratio (DPR) is 29.07%.

FedEx announced that its Board of Directors has initiated a stock buyback plan 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 reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at FedEx

In related news, VP Guy M. Erwin II sold 2,749 shares of the business’s 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 sale, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at $140,507.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 in the last ninety days. 8.73% of the stock is owned by insiders.

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.