Bar Harbor Wealth Management trimmed its stake in FedEx Co. (NYSE:FDX - Free Report) by 23.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,892 shares of the shipping service provider's stock after selling 3,681 shares during the period. Bar Harbor Wealth Management's holdings in FedEx were worth $2,899,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the stock. Transce3nd LLC acquired a new position in FedEx during the fourth quarter worth $26,000. Kentucky Trust Co purchased a new stake in shares of FedEx in the 4th quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx during the 4th quarter worth about $28,000. Runnymede Capital Advisors Inc. acquired a new position in FedEx during the 4th quarter worth about $32,000. Finally, Accredited Wealth Management LLC purchased a new position in FedEx during the 4th quarter valued at about $35,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently issued reports on FDX. Wall Street Zen cut shares of FedEx from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. BMO Capital Markets reduced their target price on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a report on Monday, May 19th. TD Cowen dropped their price target on shares of FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Citigroup cut their price objective on FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and decreased their target price for the company from $300.00 to $275.00 in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $292.54.
Get Our Latest Stock Analysis on FDX
FedEx Stock Down 0.5%
NYSE:FDX traded down $1.05 during midday trading on Friday, hitting $223.95. 1,888,309 shares of the company were exchanged, compared to its average volume of 1,854,095. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The company has a market capitalization of $53.66 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $216.82 and a 200 day simple moving average of $246.98.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the prior year, the firm posted $3.86 EPS. FedEx's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.
FedEx Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be issued a $1.45 dividend. The ex-dividend date is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is presently 36.39%.
Insider Activity
In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction 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 directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 8.87% of the company's stock.
About FedEx
(
Free Report)
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.
Featured Articles
Before you consider FedEx, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FedEx wasn't on the list.
While FedEx currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
