FedEx (NYSE:FDX) Shares Up 2.4%

Shares of FedEx Co. (NYSE:FDX) traded up 2.4% during trading on Tuesday . The company traded as high as $265.95 and last traded at $265.03. 1,505,231 shares traded hands during trading, a decline of 19% from the average session volume of 1,863,841 shares. The stock had previously closed at $258.79.

Analyst Ratings Changes

FDX has been the topic of several recent research reports. Argus boosted their price target on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $215.00 to $200.00 in a research note on Friday. Bernstein Bank boosted their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, BMO Capital Markets dropped their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Stock Performance

The firm’s 50-day moving average price is $291.50 and its 200 day moving average price is $275.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $65.61 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the business posted $4.55 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx Co. will post 20.82 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.07%. FedEx’s payout ratio is 32.04%.

Insider Activity at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Large investors have recently bought and sold shares of the company. Fortis Group Advisors LLC increased its holdings in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new position in FedEx during the 4th quarter worth about $25,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter valued at about $39,000. Security National Bank acquired a new stake in FedEx during the 4th quarter valued at approximately $44,000. Finally, Abound Wealth Management raised its holdings in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.