FedEx Co. (NYSE:FDX) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. cut its holdings in FedEx Co. (NYSE:FDX) by 26.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm 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 SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transce3nd LLC acquired a new position in shares of FedEx in the 4th quarter valued at about $26,000. Kentucky Trust Co acquired a new position in FedEx during the 4th quarter valued at about $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx during the 4th quarter valued at about $28,000. Activest Wealth Management acquired a new position in FedEx during the 4th quarter valued at about $29,000. Finally, R Squared Ltd acquired a new position in FedEx during the 4th quarter valued at about $31,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.87% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FDX. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and reduced their target price for the company from $283.00 to $221.00 in a research note on Friday, March 21st. UBS Group reduced their target price on shares of FedEx from $331.00 to $311.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Cfra Research raised shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Finally, BMO Capital Markets reduced their target price on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a research note on Monday, May 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $295.33.

FedEx Stock Up 0.9%

NYSE FDX opened at $219.81 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company’s 50 day simple moving average is $217.28 and its 200 day simple moving average is $251.18. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a market capitalization of $52.67 billion, a P/E ratio of 14.01, a PEG ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the firm earned $3.86 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts expect that FedEx Co. will post 19.14 earnings per share 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.