Baldwin Wealth Partners LLC MA Sells 115 Shares of FedEx Co. (NYSE:FDX)

Baldwin Wealth Partners LLC MA reduced its position in FedEx Co. (NYSE:FDX) by 6.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,560 shares of the shipping service provider’s stock after selling 115 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in FedEx were worth $380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. bLong Financial LLC bought a new stake in FedEx in the 4th quarter valued at about $391,000. Lodestone Wealth Management LLC bought a new stake in FedEx in the 4th quarter valued at about $461,000. Kentucky Retirement Systems Insurance Trust Fund raised its stake in FedEx by 57.9% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,540 shares of the shipping service provider’s stock valued at $2,965,000 after acquiring an additional 3,867 shares during the period. Wilsey Asset Management Inc. raised its stake in FedEx by 2.1% in the 4th quarter. Wilsey Asset Management Inc. now owns 108,113 shares of the shipping service provider’s stock valued at $30,415,000 after acquiring an additional 2,193 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in FedEx by 4.6% during the 4th quarter. Vontobel Holding Ltd. now owns 30,124 shares of the shipping service provider’s stock valued at $8,475,000 after buying an additional 1,325 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on FDX. UBS Group reduced their target price on FedEx from $331.00 to $311.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Stifel Nicolaus reduced their target price on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Citigroup reduced their target price on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Bank of America reduced their target price on FedEx from $272.00 to $270.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Finally, Barclays reduced their target price on FedEx from $350.00 to $330.00 and set an “overweight” rating for the company in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $295.33.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.87% of the company’s stock.

FedEx Stock Up 1.1%

Shares of FDX opened at $222.12 on Tuesday. The firm has a market cap of $53.22 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.11 and a beta of 1.35. The stock has a 50 day simple moving average of $215.36 and a two-hundred day simple moving average of $248.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

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

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.61%. This is a positive change from FedEx’s previous quarterly dividend of $1.38. FedEx’s dividend payout ratio is 34.63%.

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.