FedEx (NYSE:FDX) Stock Price Down 0.5% – Here’s Why

FedEx Co. (NYSE:FDX)’s share price was down 0.5% on Friday . The company traded as low as $260.45 and last traded at $260.77. Approximately 285,315 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,874,793 shares. The stock had previously closed at $262.08.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FDX shares. Wells Fargo & Company raised their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Bernstein Bank boosted their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. The Goldman Sachs Group lowered their target price on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Raymond James lowered their target price on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Bank of America lowered their target price on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Price Performance

The stock has a market capitalization of $64.01 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a 50 day moving average of $285.40 and a 200 day moving average of $275.75.

FedEx (NYSE:FDX) last released its earnings results 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 15.61% and a net margin of 4.62%. The company 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 firm earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx Co. will post 19.66 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.12%. FedEx’s dividend payout ratio is currently 32.04%.

Insider Transactions at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated 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 approximately $6,189,042.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other FedEx news, EVP Brie Carere sold 1,958 shares of the business’s 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 completion of the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marvin R. Ellison sold 2,535 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 6,955 shares in the company, valued at approximately $2,081,909.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,914 shares of company stock valued at $3,978,338. 8.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Several institutional investors have recently added to or reduced their stakes in FDX. Scarborough Advisors LLC purchased a new position in FedEx during the 4th quarter worth $25,000. Fortis Group Advisors LLC raised its holdings in 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 purchasing an additional 50 shares in the last quarter. Central Valley Advisors LLC acquired a new stake in FedEx in the second quarter valued at about $39,000. Abound Wealth Management lifted its position in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the period. Finally, Sachetta LLC boosted its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.47% 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.