Fulton Bank N.A. Boosts Holdings in FedEx Co. (NYSE:FDX)

Posted by Defense World Staff on Mar 18th, 2023

Fulton Bank N.A. boosted its position in FedEx Co. (NYSE:FDX – Get Rating) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,173 shares of the shipping service provider’s stock after purchasing an additional 636 shares during the quarter. Fulton Bank N.A.’s holdings in FedEx were worth $896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Coston McIsaac & Partners purchased a new stake in FedEx in the 2nd quarter worth approximately $30,000. Cowa LLC purchased a new stake in shares of FedEx during the 3rd quarter valued at $33,000. Providence First Trust Co purchased a new stake in shares of FedEx during the 3rd quarter valued at $35,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of FedEx during the 1st quarter valued at $35,000. Finally, Parkwood LLC raised its position in shares of FedEx by 3.8% during the 2nd quarter. Parkwood LLC now owns 37,037 shares of the shipping service provider’s stock valued at $37,000 after buying an additional 1,373 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In other news, Director Amy B. Lane acquired 280 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were acquired at an average cost of $175.83 per share, with a total value of $49,232.40. Following the transaction, the director now owns 1,529 shares in the company, valued at approximately $268,844.07. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.62% of the company’s stock.

Analysts Set New Price Targets

FDX has been the topic of several research reports. Morgan Stanley raised their price objective on shares of FedEx from $130.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, January 9th. UBS Group set a $260.00 price objective on shares of FedEx in a research report on Friday. Robert W. Baird increased their target price on shares of FedEx from $230.00 to $250.00 in a report on Friday. Citigroup boosted their price target on shares of FedEx from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus raised their price objective on FedEx from $222.00 to $242.00 in a research note on Friday. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.75.

FedEx Stock Up 8.0 %

NYSE FDX opened at $220.31 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.30 and a quick ratio of 1.25. The stock has a market capitalization of $55.61 billion, a PE ratio of 17.31, a PEG ratio of 1.22 and a beta of 1.31. FedEx Co. has a 1 year low of $141.92 and a 1 year high of $248.76. The business’s 50-day moving average is $201.14 and its 200 day moving average is $181.63.

FedEx (NYSE:FDX – Get Rating) last posted its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.74. The business had revenue of $22.17 billion for the quarter, compared to analysts’ expectations of $22.74 billion. FedEx had a return on equity of 19.17% and a net margin of 3.54%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.59 EPS. Sell-side analysts forecast that FedEx Co. will post 13.53 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, March 10th. This represents a $4.60 annualized dividend and a yield of 2.09%. FedEx’s payout ratio is 36.14%.

FedEx Company Profile

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.