Bartlett & CO. Wealth Management LLC Sells 171,579 Shares of FedEx Corporation $FDX

Key Points

• Bartlett & CO. Wealth Management LLC notably reduced its holdings of FedEx Corporation by 73.7%, selling 171,579 shares and now holds only 61,335 shares valued at approximately $14 million.
• FedEx has experienced varying analyst ratings, with an average rating of "Moderate Buy" and a price target of $271.67, influenced by recent target price cuts from multiple firms.
• The company reported a quarterly earnings of $3.83 per share, exceeding analysts' expectations, alongside a 3.1% increase in revenue year-over-year, and announced a quarterly dividend of $1.45.

Bartlett & CO. Wealth Management LLC lowered its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 73.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,335 shares of the shipping service provider's stock after selling 171,579 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in FedEx were worth $14,006,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FDX. Brighton Jones LLC increased its stake 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 acquiring an additional 207 shares during the period. NBC Securities Inc. acquired a new stake in shares of FedEx during the 1st quarter worth about $147,000. Merit Financial Group LLC lifted its holdings in FedEx by 54.7% during the 1st quarter. Merit Financial Group LLC now owns 4,374 shares of the shipping service provider's stock valued at $1,066,000 after purchasing an additional 1,546 shares during the last quarter. RFG Advisory LLC boosted its position in FedEx by 26.8% in the first quarter. RFG Advisory LLC now owns 1,312 shares of the shipping service provider's stock valued at $320,000 after buying an additional 277 shares in the last quarter. Finally, Spring Capital Management LLC bought a new stake in FedEx during the first quarter worth about $284,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of FedEx from $243.00 to $239.00 in a research note on Friday, September 19th. BNP Paribas Exane upgraded FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price objective for the company in a research report on Thursday, July 3rd. BMO Capital Markets decreased their target price on FedEx from $260.00 to $255.00 and set a "market perform" rating on the stock in a report on Friday, September 19th. JPMorgan Chase & Co. lowered their target price on FedEx from $285.00 to $284.00 and set an "overweight" rating for the company in a research note on Friday, September 19th. Finally, The Goldman Sachs Group reduced their price target on shares of FedEx from $290.00 to $276.00 and set a "buy" rating on the stock in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $271.67.

Insiders Place Their Bets

In other FedEx news, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the sale, the director owned 8,935 shares of the company's stock, valued at $2,160,036.25. This trade represents a 19.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction dated 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 sale, the director owned 15,513 shares in the company, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,343 shares of company stock worth $2,228,816. Corporate insiders own 0.53% of the company's stock.

FedEx Trading Down 0.4%

NYSE:FDX opened at $235.73 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.21. The business's 50-day simple moving average is $229.60 and its 200-day simple moving average is $225.93. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The stock has a market capitalization of $55.62 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.31 and a beta of 1.20.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 4.65% and a return on equity of 16.33%. The business's revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.60 earnings per share. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Sell-side analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be paid a $1.45 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a yield of 2.5%. FedEx's dividend payout ratio is presently 33.86%.

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.

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