Bangor Savings Bank Lowers Holdings in FedEx Corporation (FDX)

Bangor Savings Bank decreased its position in shares of FedEx Corporation (NYSE:FDX) by 0.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,362 shares of the shipping service provider’s stock after selling 29 shares during the period. Bangor Savings Bank’s holdings in FedEx Corporation were worth $1,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FDX. Vanguard Group Inc. grew its stake in shares of FedEx Corporation by 2.7% during the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after buying an additional 492,840 shares during the last quarter. BlackRock Inc. grew its stake in shares of FedEx Corporation by 1,912.1% during the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after buying an additional 14,086,601 shares during the last quarter. FMR LLC grew its stake in shares of FedEx Corporation by 0.3% during the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock valued at $984,539,000 after buying an additional 15,382 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of FedEx Corporation by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 3,659,103 shares of the shipping service provider’s stock valued at $795,260,000 after buying an additional 13,383 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of FedEx Corporation by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after purchasing an additional 501,617 shares during the last quarter. Institutional investors and hedge funds own 76.22% of the company’s stock.

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FDX has been the topic of several recent analyst reports. Vetr raised FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 target price on the stock in a research note on Tuesday, July 18th. BidaskClub cut FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Credit Suisse Group reissued a “buy” rating and issued a $237.00 target price on shares of FedEx Corporation in a research note on Monday, August 7th. Cowen and Company reissued a “buy” rating and issued a $240.00 target price on shares of FedEx Corporation in a research note on Thursday, August 10th. Finally, Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $230.21.

Shares of FedEx Corporation (FDX) opened at $221.43 on Tuesday. The company has a market cap of $58,496.42, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37. FedEx Corporation has a one year low of $182.75 and a one year high of $231.35. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.

FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.90 earnings per share. equities analysts forecast that FedEx Corporation will post 12.47 earnings per share for the current year.

In other news, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the sale, the insider now owns 36,747 shares in the company, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock worth $9,024,637 over the last 90 days. Corporate insiders own 8.45% of the company’s stock.

FedEx Corporation Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

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Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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