FedEx Corporation $FDX Holdings Cut by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC reduced its stake in shares of FedEx Corporation (NYSE:FDX) by 21.3% during the 1st quarter, HoldingsChannel reports. The fund owned 30,061 shares of the shipping service provider’s stock after selling 8,147 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in FedEx were worth $10,756,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FDX. Brighton Jones LLC increased its position in FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 207 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after buying an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of FedEx during the 2nd quarter valued at about $586,000. Quantbot Technologies LP bought a new stake in shares of FedEx in the 2nd quarter valued at approximately $186,000. Finally, Jump Financial LLC bought a new stake in shares of FedEx in the 2nd quarter valued at approximately $456,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FDX has been the topic of several recent research reports. The Goldman Sachs Group cut their price objective on shares of FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft downgraded shares of FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Wolfe Research reduced their price objective on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Morgan Stanley upped their price objective on shares of FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, March 20th. Finally, Argus boosted their price target on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx Price Performance

NYSE FDX opened at $313.17 on Friday. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The company has a fifty day simple moving average of $342.12 and a 200 day simple moving average of $349.22. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The company has a market cap of $74.72 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.98 and a beta of 1.29.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.91 by $0.40. The firm had revenue of $25.01 billion during the quarter, compared to analyst estimates of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, sell-side analysts predict that FedEx Corporation will post 14.54 EPS for the current year.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.