Community Bank N.A. Has $96,000 Holdings in FedEx Co. (NYSE:FDX)

Community Bank N.A. lowered its position in shares of FedEx Co. (NYSE:FDX) by 70.3% during the fourth quarter, Holdings Channel reports. The fund 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 quarter.

A number of other large investors have also made changes to their positions in the company. Sentry LLC acquired a new position in FedEx in the 4th quarter valued at approximately $1,811,748,000. Mizuho Markets Americas LLC acquired a new position in FedEx in the 3rd quarter valued at approximately $496,611,000. FMR LLC increased its stake in 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 buying an additional 916,555 shares during the period. International Assets Investment Management LLC grew its position in FedEx by 33,890.5% in the fourth quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after acquiring an additional 649,680 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in FedEx by 144.4% in the third quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock worth $267,135,000 after acquiring an additional 595,628 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 0.3 %

Shares of FDX traded down $0.78 during trading hours on Thursday, reaching $265.29. The stock had a trading volume of 493,580 shares, compared to its average volume of 2,036,336. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The firm has a 50-day simple moving average of $261.03 and a 200 day simple moving average of $254.36. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $65.28 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.28 and a beta of 1.21.

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

FedEx declared that its board has authorized a share repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

FedEx Dividend Announcement

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

Insiders Place Their Bets

In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the transaction, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. 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 quarter. 8.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group boosted their target price on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. BNP Paribas reissued an “underperform” rating and set a $250.00 price objective on shares of FedEx in a research note on Wednesday, March 27th. UBS Group raised their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, TD Cowen lifted their price objective on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $301.33.

FedEx Company Profile

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.