Bangor Savings Bank Sells 170 Shares of FedEx Co. (NYSE:FDX)

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Bangor Savings Bank cut its stake in FedEx Co. (NYSE:FDX) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,663 shares of the shipping service provider’s stock after selling 170 shares during the period. Bangor Savings Bank’s holdings in FedEx were worth $1,094,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Northern Trust Corp grew its position in shares of FedEx by 1.4% in the 1st quarter. Northern Trust Corp now owns 2,898,010 shares of the shipping service provider’s stock valued at $525,728,000 after buying an additional 38,692 shares during the last quarter. Greenhaven Associates Inc. grew its position in shares of FedEx by 0.7% in the 1st quarter. Greenhaven Associates Inc. now owns 2,749,967 shares of the shipping service provider’s stock valued at $498,872,000 after buying an additional 20,450 shares during the last quarter. Geode Capital Management LLC grew its position in shares of FedEx by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock valued at $442,149,000 after buying an additional 185,252 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of FedEx by 40.7% in the 1st quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock valued at $497,162,000 after buying an additional 792,575 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of FedEx by 21.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock valued at $383,063,000 after buying an additional 418,451 shares during the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

In other FedEx news, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the transaction, the executive vice president now directly owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the transaction, the director now directly owns 16,440 shares of the company’s stock, valued at $2,661,307.20. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

Shares of FedEx stock opened at $152.82 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94. The company has a market cap of $41.86 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The business has a 50 day moving average price of $165.00 and a 200-day moving average price of $173.94. FedEx Co. has a 52 week low of $150.68 and a 52 week high of $259.25.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, beating the Zacks’ consensus estimate of $4.93 by $0.08. The company had revenue of $17.81 billion during the quarter, compared to the consensus estimate of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. FedEx’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $5.91 earnings per share. As a group, research analysts anticipate that FedEx Co. will post 14.61 EPS for the current year.

FDX has been the topic of a number of analyst reports. Raymond James reduced their price target on FedEx from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 26th. Citigroup reduced their price target on FedEx from $192.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Bank of America reduced their price target on FedEx from $188.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. KeyCorp cut their target price on FedEx from $215.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Finally, Morgan Stanley set a $143.00 target price on FedEx and gave the company a “hold” rating in a research report on Monday, June 10th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. FedEx presently has a consensus rating of “Buy” and an average target price of $191.63.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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