Mascoma Wealth Management LLC Has $75,000 Stock Position in FedEx Co. (NYSE:FDX)

Mascoma Wealth Management LLC trimmed its position in FedEx Co. (NYSE:FDXGet Rating) by 18.5% in the second quarter, Holdings Channel.com reports. The firm owned 330 shares of the shipping service provider’s stock after selling 75 shares during the period. Mascoma Wealth Management LLC’s holdings in FedEx were worth $75,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its position in shares of FedEx by 53.2% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 66,692 shares of the shipping service provider’s stock worth $15,432,000 after buying an additional 23,157 shares during the period. Graypoint LLC grew its position in shares of FedEx by 16.0% during the 1st quarter. Graypoint LLC now owns 1,897 shares of the shipping service provider’s stock worth $439,000 after buying an additional 261 shares during the period. NN Investment Partners Holdings N.V. grew its position in shares of FedEx by 15.2% during the 1st quarter. NN Investment Partners Holdings N.V. now owns 54,607 shares of the shipping service provider’s stock worth $12,635,000 after buying an additional 7,192 shares during the period. Value Partners Investments Inc. grew its position in shares of FedEx by 21.5% during the 1st quarter. Value Partners Investments Inc. now owns 306,203 shares of the shipping service provider’s stock worth $70,826,000 after buying an additional 54,116 shares during the period. Finally, Veriti Management LLC grew its position in shares of FedEx by 22.5% during the 1st quarter. Veriti Management LLC now owns 3,343 shares of the shipping service provider’s stock worth $774,000 after buying an additional 614 shares during the period. 71.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FDX. Stephens cut their price objective on FedEx from $295.00 to $200.00 in a report on Friday. Evercore ISI cut their price objective on FedEx from $318.00 to $243.00 and set an “outperform” rating on the stock in a report on Friday, September 16th. JPMorgan Chase & Co. cut FedEx from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $258.00 to $214.00 in a report on Friday, September 16th. The Goldman Sachs Group cut their price objective on FedEx from $288.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, September 16th. Finally, Cowen cut their price objective on FedEx from $310.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, September 16th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $230.91.

FedEx Stock Up 0.8 %

NYSE:FDX opened at $154.54 on Friday. The firm has a market capitalization of $40.17 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21. FedEx Co. has a twelve month low of $150.34 and a twelve month high of $266.79. The stock’s 50 day moving average price is $216.15 and its two-hundred day moving average price is $216.44. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81.

FedEx (NYSE:FDXGet Rating) last posted its earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). The business had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.78 billion. FedEx had a return on equity of 22.29% and a net margin of 4.09%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.37 earnings per share. Equities research analysts expect that FedEx Co. will post 16.55 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, September 1st. FedEx’s payout ratio is presently 32.17%.

Insider Buying and Selling

In related news, EVP Jill Brannon sold 5,620 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $237.00, for a total transaction of $1,331,940.00. Following the transaction, the executive vice president now directly owns 8,113 shares of the company’s stock, valued at approximately $1,922,781. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 12,310 shares of the company’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $230.61, for a total value of $2,838,809.10. Following the transaction, the executive vice president now directly owns 54,916 shares of the company’s stock, valued at approximately $12,664,178.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jill Brannon sold 5,620 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $237.00, for a total value of $1,331,940.00. Following the completion of the transaction, the executive vice president now directly owns 8,113 shares in the company, valued at $1,922,781. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,810 shares of company stock valued at $11,199,898. 8.62% of the stock is owned by insiders.

FedEx Company Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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