Baker Ellis Asset Management LLC Has $407,000 Position in FedEx Co. (NYSE:FDX)

Baker Ellis Asset Management LLC trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,669 shares of the shipping service provider’s stock after selling 100 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in FedEx were worth $407,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FDX. Brighton Jones LLC increased its position in FedEx by 12.8% during 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 in the last quarter. Kingsview Wealth Management LLC increased its position in FedEx by 8.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,261 shares of the shipping service provider’s stock valued at $917,000 after acquiring an additional 247 shares during the period. Stonebridge Financial Group LLC acquired a new position in FedEx in the 4th quarter valued at approximately $76,000. Portfolio Design Labs LLC increased its position in FedEx by 29.1% in the 4th quarter. Portfolio Design Labs LLC now owns 9,347 shares of the shipping service provider’s stock valued at $2,630,000 after acquiring an additional 2,108 shares during the period. Finally, Kentucky Trust Co acquired a new position in FedEx in the 4th quarter valued at approximately $28,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 1.7%

NYSE:FDX opened at $224.06 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market cap of $53.68 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The firm has a 50-day moving average price of $215.89 and a two-hundred day moving average price of $248.47.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 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 net margin of 4.45% and a return on equity of 15.59%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $3.86 EPS. On average, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.59%. This is a positive change from FedEx’s previous quarterly dividend of $1.38. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were 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 in the company, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.87% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FDX shares. Truist Financial decreased their price target on shares of FedEx from $305.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. BMO Capital Markets reduced their price objective on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating on the stock in a research note on Monday, May 19th. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and reduced their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Stifel Nicolaus decreased their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, UBS Group cut their price objective on shares of FedEx from $331.00 to $311.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.33.

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.