FedEx (NYSE:FDX) Shares Down 0.3%

FedEx Co. (NYSE:FDX) was down 0.3% during mid-day trading on Wednesday . The company traded as low as $267.05 and last traded at $268.69. Approximately 286,154 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,877,783 shares. The stock had previously closed at $269.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FDX shares. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company raised their target price on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, Loop Capital lowered their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $314.74.

FedEx Stock Down 0.8 %

The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $65.82 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.04 and a beta of 1.17. The stock’s 50-day simple moving average is $286.76 and its 200-day simple moving average is $275.91.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.55 earnings per share. As a group, research analysts predict that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Transactions at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marvin R. Ellison sold 2,535 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $299.34, for a total value of $758,826.90. Following the sale, the director now directly owns 6,955 shares in the company, valued at approximately $2,081,909.70. The disclosure for this sale can be found here. Insiders sold a total of 12,914 shares of company stock worth $3,978,338 in the last quarter. Insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several large investors have recently added to or reduced their stakes in FDX. Capital International Investors raised its holdings in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Sentry LLC purchased a new position in FedEx in the 4th quarter worth approximately $307,007,000. Vanguard Group Inc. raised its position in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Putnam Investments LLC increased its stake in FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its stake in FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

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.