Grove Bank & Trust Has $105,000 Stake in FedEx Co. (NYSE:FDX)

Grove Bank & Trust boosted its position in FedEx Co. (NYSE:FDX) by 13.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 384 shares of the shipping service provider’s stock after buying an additional 46 shares during the period. Grove Bank & Trust’s holdings in FedEx were worth $105,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fiduciary Alliance LLC lifted its holdings in FedEx by 47.2% in the third quarter. Fiduciary Alliance LLC now owns 1,195 shares of the shipping service provider’s stock valued at $327,000 after buying an additional 383 shares during the period. Woodstock Corp lifted its holdings in FedEx by 0.7% in the third quarter. Woodstock Corp now owns 25,452 shares of the shipping service provider’s stock valued at $6,966,000 after buying an additional 185 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in FedEx by 6.4% in the third quarter. Redhawk Wealth Advisors Inc. now owns 2,528 shares of the shipping service provider’s stock valued at $692,000 after buying an additional 153 shares during the period. Exchange Traded Concepts LLC acquired a new position in FedEx in the third quarter valued at $97,000. Finally, Matrix Asset Advisors Inc. NY lifted its holdings in FedEx by 0.4% in the third quarter. Matrix Asset Advisors Inc. NY now owns 50,047 shares of the shipping service provider’s stock valued at $13,697,000 after buying an additional 216 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 1.2 %

FDX opened at $267.51 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market cap of $65.83 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.06 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company’s 50-day moving average price is $280.77 and its two-hundred day moving average price is $275.24.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.55 earnings per share. As a group, equities analysts expect that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Analysts Set New Price Targets

Several research firms have weighed in on FDX. Stephens reaffirmed an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. The Goldman Sachs Group decreased their price target on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Finally, Bank of America decreased their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

Insider Activity at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 8.73% of the stock is currently owned by corporate insiders.

FedEx 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.