FedEx (NYSE:FDX) Shares Up 1.3%

Shares of FedEx Co. (NYSE:FDX) rose 1.3% during trading on Friday . The company traded as high as $270.48 and last traded at $269.71. Approximately 471,765 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 1,873,620 shares. The stock had previously closed at $266.33.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FDX shares. Argus increased their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. UBS Group cut their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock 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. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $215.00 to $200.00 in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Price Performance

The company has a fifty day moving average of $288.84 and a 200-day moving average of $275.28. 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 stock has a market cap of $65.56 billion, a PE ratio of 15.65, a P/E/G ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter 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. Sell-side analysts expect that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.06%. FedEx’s dividend payout ratio is currently 32.04%.

Insider Buying and Selling at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the 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 directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director David P. Steiner sold 1,369 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total transaction of $407,564.99. Following the transaction, the director now directly owns 35,183 shares in the company, valued at $10,474,330.93. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the firm’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 completion of the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 14,399 shares of company stock worth $4,420,615 over the last 90 days. Corporate insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of large investors have recently modified their holdings of FDX. Scarborough Advisors LLC acquired a new position in shares of FedEx during the 4th quarter worth $25,000. Fortis Group Advisors LLC lifted its stake in FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Central Valley Advisors LLC acquired a new stake in FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management increased its position in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares in the last quarter. Finally, Sachetta LLC increased its position in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.