FedEx Corporation $FDX Stake Lessened by Bartlett & CO. Wealth Management LLC

Key Points

• Bartlett & CO. Wealth Management LLC cut its FedEx stake by 21.3% in the first quarter, selling 8,147 shares and leaving it with 30,061 shares worth about $10.76 million.
• FedEx reported better-than-expected quarterly results, posting EPS of $6.31 versus the $5.91 estimate and revenue of $25.01 billion versus $24.04 billion expected; revenue rose 12.5% year over year.
• The stock fell 1.6% to $313.17, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $350.54.

Bartlett & CO. Wealth Management LLC lessened its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 21.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,061 shares of the shipping service provider's stock after selling 8,147 shares during the quarter. Bartlett & CO. Wealth Management LLC's holdings in FedEx were worth $10,756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. grew its stake in shares of FedEx by 3.2% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider's stock worth $296,000 after purchasing an additional 26 shares during the last quarter. OneAscent Financial Services LLC lifted its stake in FedEx by 1.7% during the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider's stock valued at $491,000 after purchasing an additional 29 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in FedEx by 9.9% during the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider's stock worth $119,000 after buying an additional 30 shares in the last quarter. Arete Wealth Advisors LLC grew its position in FedEx by 1.7% in the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider's stock worth $514,000 after buying an additional 30 shares during the last quarter. Finally, LRI Investments LLC increased its holdings in shares of FedEx by 5.2% in the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider's stock valued at $183,000 after buying an additional 31 shares in the last quarter. Institutional investors own 84.47% of the company's stock.

FedEx Trading Down 1.6%

NYSE FDX opened at $313.17 on Friday. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market cap of $74.72 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.98 and a beta of 1.29. The firm's 50 day moving average price is $342.12 and its two-hundred day moving average price is $349.22.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.91 by $0.40. The company had revenue of $25.01 billion for the quarter, compared to the consensus estimate of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company's revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. Equities analysts anticipate that FedEx Corporation will post 14.54 EPS for the current year.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx's dividend payout ratio is currently 26.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FDX shares. Susquehanna increased their price objective on FedEx from $410.00 to $455.00 and gave the company a "positive" rating in a research report on Friday, March 20th. Wall Street Zen raised FedEx from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of FedEx in a report on Friday, June 26th. Raymond James Financial decreased their price target on FedEx from $415.00 to $330.00 and set an "outperform" rating for the company in a research report on Wednesday, June 24th. Finally, Weiss Ratings cut FedEx from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $350.54.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company's stock.

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.

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