Fulton Bank N.A. Trims Stock Position in FedEx Corporation $FDX

Fulton Bank N.A. lessened its position in shares of FedEx Corporation (NYSE:FDX) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,090 shares of the shipping service provider’s stock after selling 65 shares during the quarter. Fulton Bank N.A.’s holdings in FedEx were worth $930,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after purchasing an additional 207 shares during the period. Man Group plc raised its position in FedEx by 274.3% in the fourth quarter. Man Group plc now owns 7,253 shares of the shipping service provider’s stock valued at $2,040,000 after purchasing an additional 5,315 shares during the period. Two Sigma Investments LP raised its position in FedEx by 98.1% in the fourth quarter. Two Sigma Investments LP now owns 10,700 shares of the shipping service provider’s stock valued at $3,010,000 after purchasing an additional 5,300 shares during the period. Waverly Advisors LLC raised its position in FedEx by 34.0% in the fourth quarter. Waverly Advisors LLC now owns 5,032 shares of the shipping service provider’s stock valued at $1,416,000 after purchasing an additional 1,278 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in FedEx by 14.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,448 shares of the shipping service provider’s stock valued at $12,505,000 after purchasing an additional 5,721 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 2.5%

FedEx stock opened at $232.10 on Friday. The firm has a market capitalization of $54.76 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.28 and a beta of 1.20. The stock’s fifty day simple moving average is $228.84 and its 200-day simple moving average is $226.62. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $308.53.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 EPS for the quarter, beating the consensus estimate of $3.71 by $0.12. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.74 billion. FedEx had a return on equity of 16.43% and a net margin of 4.65%.FedEx’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.60 earnings per share. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. As a group, equities analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be issued a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, September 8th. FedEx’s dividend payout ratio is 34.36%.

Insider Activity at FedEx

In related news, Director R Brad Martin sold 2,123 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the transaction, the director owned 8,935 shares of the company’s stock, valued at $2,160,036.25. This represents a 19.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the transaction, the director directly owned 15,513 shares in the company, valued at $3,696,592.77. This trade represents a 18.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock valued at $2,228,816 over the last quarter. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research analyst reports. Bank of America boosted their target price on FedEx from $240.00 to $244.00 and gave the company a “neutral” rating in a research report on Friday. Jefferies Financial Group boosted their target price on FedEx from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Friday. Cowen reissued a “buy” rating on shares of FedEx in a research report on Wednesday, June 25th. Truist Financial reaffirmed a “buy” rating and set a $275.00 price objective on shares of FedEx in a research report on Wednesday, June 25th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $243.00 price objective (down previously from $249.00) on shares of FedEx in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.85.

FedEx 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.