Fulton Bank N.A. trimmed its holdings in FedEx Corporation (NYSE:FDX) by 7.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,055 shares of the shipping service provider’s stock after selling 510 shares during the quarter. Fulton Bank N.A.’s holdings in FedEx Corporation were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of FDX. FNY Managed Accounts LLC acquired a new stake in FedEx Corporation in the 1st quarter valued at about $100,000. Alexandria Capital LLC lifted its stake in FedEx Corporation by 2.1% during the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after buying an additional 11 shares in the last quarter. Brick & Kyle Associates lifted its stake in FedEx Corporation by 1.5% during the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares in the last quarter. Hefty Wealth Partners lifted its stake in FedEx Corporation by 26.0% during the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after buying an additional 130 shares in the last quarter. Finally, Patten Group Inc. increased its holdings in shares of FedEx Corporation by 700.0% in the 1st quarter. Patten Group Inc. now owns 760 shares of the shipping service provider’s stock valued at $149,000 after purchasing an additional 665 shares during the period. 75.86% of the stock is owned by institutional investors.
In other news, CEO David L. Cunningham, Jr. sold 17,565 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $211.00, for a total value of $3,706,215.00. Following the transaction, the chief executive officer now owns 29,148 shares in the company, valued at $6,150,228. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John L. Merino sold 7,200 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total value of $1,521,072.00. Following the sale, the vice president now directly owns 33,908 shares of the company’s stock, valued at $7,163,404.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,757 shares of company stock worth $16,447,426. Corporate insiders own 8.45% of the company’s stock.
Shares of FedEx Corporation (NYSE:FDX) opened at 214.83 on Friday. The company has a 50-day moving average price of $209.74 and a 200-day moving average price of $201.96. FedEx Corporation has a 12 month low of $159.55 and a 12 month high of $219.99. The firm has a market capitalization of $57.63 billion, a price-to-earnings ratio of 19.41 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, topping the consensus estimate of $3.88 by $0.37. The business had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.30 earnings per share. Equities analysts forecast that FedEx Corporation will post $13.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.93%. FedEx Corporation’s payout ratio is currently 18.08%.
FDX has been the topic of a number of research reports. Vetr downgraded FedEx Corporation to a “sell” rating and set a $204.84 target price on the stock. in a report on Thursday, August 31st. Stifel Nicolaus upped their target price on FedEx Corporation from $194.00 to $216.00 and gave the company a “hold” rating in a report on Monday, June 12th. BidaskClub downgraded FedEx Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research downgraded FedEx Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, BMO Capital Markets restated a “buy” rating and issued a $245.00 price objective on shares of FedEx Corporation in a report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $223.85.
About FedEx Corporation
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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