Hsbc Global Res Downgrades FedEx (NYSE:FDX) to Hold

FedEx (NYSE:FDX) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

Several other research firms also recently weighed in on FDX. BMO Capital Markets dropped their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday. UBS Group dropped their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. The Goldman Sachs Group decreased their price target on shares of FedEx from $333.00 to $332.00 in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $313.38.

FedEx Trading Down 15.2 %

Shares of FDX stock opened at $254.64 on Friday. The stock has a market cap of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The business has a fifty day simple moving average of $292.43 and a 200-day simple moving average of $275.04.

FedEx (NYSE:FDX) last posted 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 analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $4.55 earnings per share. On average, analysts forecast that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Activity 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 value of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the company’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 completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

Institutional Trading of FedEx

Several institutional investors have recently added to or reduced their stakes in FDX. SeaCrest Wealth Management LLC lifted its holdings in shares of FedEx by 0.6% during 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 buying an additional 34 shares during the last quarter. LRI Investments LLC grew its position in FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares in the last quarter. Ascent Wealth Partners LLC grew its position in FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares in the last quarter. Detalus Advisors LLC increased its stake in shares of FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC raised its holdings in shares of FedEx by 29.1% during 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. 84.47% of the stock is 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.