Fulton Bank N.A. Decreases Stock Position in FedEx Co. (NYSE:FDX)

Fulton Bank N.A. reduced its stake in FedEx Co. (NYSE:FDX - Free Report) by 26.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,155 shares of the shipping service provider's stock after selling 1,460 shares during the period. Fulton Bank N.A.'s holdings in FedEx were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Transce3nd LLC acquired a new stake in FedEx in the fourth quarter valued at approximately $26,000. Kentucky Trust Co acquired a new stake in shares of FedEx during the 4th quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx during the 4th quarter worth $28,000. Activest Wealth Management acquired a new position in FedEx in the 4th quarter worth about $29,000. Finally, R Squared Ltd acquired a new position in FedEx in the 4th quarter worth about $31,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FDX shares. Raymond James dropped their price objective on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Truist Financial dropped their price target on shares of FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. TD Cowen reduced their price objective on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Finally, Citigroup reduced their price target on FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $295.33.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.87% of the company's stock.

FedEx Stock Up 1.6%

Shares of NYSE:FDX traded up $3.49 during midday trading on Friday, hitting $220.22. 912,267 shares of the company's stock were exchanged, compared to its average volume of 1,832,647. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a market cap of $52.76 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The stock has a 50 day moving average price of $216.27 and a 200-day moving average price of $250.41.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $3.86 earnings per share. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

About FedEx

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.