Baker Ellis Asset Management LLC Sells 100 Shares of FedEx Co. (NYSE:FDX)

Baker Ellis Asset Management LLC cut its holdings in FedEx Co. (NYSE:FDX) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after acquiring an additional 56,236 shares during the last quarter. Dodge & Cox raised its holdings in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the period. Geode Capital Management LLC raised its holdings in FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the period. Franklin Resources Inc. raised its holdings in FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after purchasing an additional 323,115 shares during the period. Finally, Invesco Ltd. raised its holdings in FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock worth $906,165,000 after purchasing an additional 127,044 shares during the period. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FDX has been the topic of several analyst reports. Barclays cut their target price on shares of FedEx from $350.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, June 3rd. JPMorgan Chase & Co. cut their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company cut their target price on shares of FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. UBS Group cut their target price on shares of FedEx from $331.00 to $311.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Finally, Stifel Nicolaus dropped their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $295.33.

FedEx Stock Performance

Shares of FDX opened at $224.06 on Thursday. The firm has a 50-day moving average of $215.89 and a 200-day moving average of $248.47. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company has a market cap of $53.68 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. 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 (NYSE:FDX) last announced its earnings results 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 company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.86 EPS. As a group, equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be issued a $1.45 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.59%. This is an increase from FedEx’s previous quarterly dividend of $1.38. FedEx’s payout ratio is currently 34.63%.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. The trade was a 20.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 8.87% of the company’s stock.

FedEx Company 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.