FedEx (NYSE:FDX) Trading Down 1.2%

FedEx Co. (NYSE:FDX) shares were down 1.2% during trading on Thursday . The stock traded as low as $262.44 and last traded at $263.83. Approximately 232,458 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,875,258 shares. The stock had previously closed at $266.93.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. TD Cowen cut their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, Stephens restated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Price Performance

The company has a market capitalization of $64.84 billion, a P/E ratio of 15.31, a PEG ratio of 1.04 and a beta of 1.17. The stock’s fifty day simple moving average is $286.13 and its 200-day simple moving average is $275.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

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

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Activity at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Marvin R. Ellison sold 2,535 shares of FedEx stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $299.34, for a total transaction of $758,826.90. Following the sale, the director now directly owns 6,955 shares of the company’s stock, 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 ninety days. 8.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC raised its position in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after acquiring an additional 34 shares during the period. LRI Investments LLC boosted its position in shares of FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares in the last quarter. Ascent Wealth Partners LLC boosted its position in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC increased its position in shares of FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares in the last quarter. Finally, Sachetta LLC raised its stake in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the period. 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.