Fulton Bank N.A. raised its stake in shares of FedEx Co. (NYSE:FDX – Free Report) by 44.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,369 shares of the shipping service provider’s stock after buying an additional 2,280 shares during the period. Fulton Bank N.A.’s holdings in FedEx were worth $1,827,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of FDX. Guardian Wealth Advisors LLC acquired a new position in FedEx in the first quarter valued at approximately $26,000. GW&K Investment Management LLC purchased a new stake in FedEx during the first quarter worth $27,000. Horan Securities Inc. boosted its stake in shares of FedEx by 85.7% during the 1st quarter. Horan Securities Inc. now owns 130 shares of the shipping service provider’s stock worth $30,000 after acquiring an additional 60 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of FedEx by 1,957.1% during the 1st quarter. Sound Income Strategies LLC now owns 144 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 137 shares during the period. Finally, Core Alternative Capital increased its stake in shares of FedEx by 105.6% in the 1st quarter. Core Alternative Capital now owns 146 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 73.61% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on FedEx from $259.00 to $288.00 in a research note on Wednesday, July 26th. Evercore ISI decreased their price target on shares of FedEx from $282.00 to $275.00 in a research note on Wednesday, June 21st. Citigroup boosted their price objective on FedEx from $285.00 to $295.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird reiterated an “outperform” rating and set a $300.00 price target on shares of FedEx in a research report on Thursday. Finally, UBS Group lifted their target price on shares of FedEx from $272.00 to $312.00 in a research note on Friday, September 1st. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $251.82.
Insider Buying and Selling
In other FedEx news, EVP Michael C. Lenz sold 5,745 shares of FedEx stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $261.88, for a total value of $1,504,500.60. Following the completion of the transaction, the executive vice president now directly owns 22,478 shares of the company’s stock, valued at approximately $5,886,538.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Michael C. Lenz sold 5,745 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the sale, the executive vice president now owns 22,478 shares of the company’s stock, valued at $5,886,538.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jennifer L. Johnson sold 10,801 shares of the stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total value of $2,577,226.61. Following the completion of the sale, the vice president now owns 3,196 shares in the company, valued at $762,597.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,816 shares of company stock valued at $8,822,147. Corporate insiders own 8.73% of the company’s stock.
FedEx Trading Up 1.9 %
NYSE FDX opened at $257.03 on Friday. FedEx Co. has a 12 month low of $141.92 and a 12 month high of $270.95. The stock has a market capitalization of $64.65 billion, a P/E ratio of 16.58, a PEG ratio of 1.21 and a beta of 1.36. The firm’s 50-day moving average is $260.76 and its two-hundred day moving average is $237.35. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.37 and a quick ratio of 1.33.
FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share for the quarter, topping analysts’ consensus estimates of $4.85 by $0.09. The firm had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.55 billion. FedEx had a net margin of 4.41% and a return on equity of 15.32%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the company posted $6.87 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 17.37 earnings per share for the current year.
FedEx Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a $1.26 dividend. The ex-dividend date is Friday, September 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.96%. FedEx’s dividend payout ratio is presently 32.52%.
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.
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