Fulton Bank N.A. Sells 1,647 Shares of FedEx Co. (NYSE:FDX)

Fulton Bank N.A. reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 22.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,644 shares of the shipping service provider’s stock after selling 1,647 shares during the quarter. Fulton Bank N.A.’s holdings in FedEx were worth $1,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Fidelis Capital Partners LLC increased its stake in FedEx by 4.1% during the 1st quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock worth $285,000 after acquiring an additional 39 shares during the period. Regent Peak Wealth Advisors LLC increased its holdings in shares of FedEx by 3.5% during the first quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock worth $369,000 after buying an additional 43 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in shares of FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after acquiring an additional 44 shares during the last quarter. SVB Wealth LLC increased its holdings in FedEx by 2.5% in the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after purchasing an additional 44 shares in the last quarter. Finally, Team Hewins LLC raised its position in FedEx by 4.9% in the first quarter. Team Hewins LLC now owns 972 shares of the shipping service provider’s stock valued at $283,000 after purchasing an additional 45 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FDX has been the topic of several research reports. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $296.00 to $359.00 in a report on Wednesday, June 26th. Robert W. Baird upped their price target on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Wells Fargo & Company lifted their price target on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. UBS Group decreased their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Finally, Raymond James reduced their price target on FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Stock Up 0.9 %

FDX traded up $2.64 during trading on Tuesday, hitting $285.73. 1,399,204 shares of the company’s stock were exchanged, compared to its average volume of 1,897,218. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock has a market cap of $70.31 billion, a P/E ratio of 16.58, a PEG ratio of 1.08 and a beta of 1.18. The business’s 50 day moving average is $278.50 and its two-hundred day moving average is $264.60. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.94 EPS. As a group, equities analysts expect that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were given a $1.38 dividend. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Monday, June 24th. FedEx’s dividend payout ratio is presently 32.04%.

Insider Buying and Selling at FedEx

In other news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

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.