FedEx (NYSE:FDX) Trading Up 2.8%

FedEx Co. (NYSE:FDX)’s share price traded up 2.8% during mid-day trading on Monday . The company traded as high as $276.75 and last traded at $274.94. 1,051,876 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 1,876,007 shares. The stock had previously closed at $267.55.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Argus boosted their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Stock Up 2.3 %

The stock has a market cap of $67.37 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The stock’s 50-day moving average is $288.06 and its 200-day moving average is $275.67. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

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 firm 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%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.55 EPS. As a group, research analysts anticipate that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.02%. FedEx’s payout ratio is presently 32.04%.

Insider Activity

In related news, Director David P. Steiner sold 1,369 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the completion of the sale, the director now directly owns 35,183 shares in the company, valued at $10,474,330.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Steiner sold 1,369 shares of FedEx stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the sale, the director now directly owns 35,183 shares in the company, valued at $10,474,330.93. The disclosure for this sale can be found here. Insiders have sold 14,399 shares of company stock worth $4,420,615 in the last 90 days. Company insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Institutional investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. lifted its holdings in FedEx by 20.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after purchasing an additional 5,055 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of FedEx during the 1st quarter valued at $1,667,000. Allegheny Financial Group LTD bought a new stake in FedEx in the first quarter valued at about $203,000. Hilltop National Bank bought a new stake in shares of FedEx in the 1st quarter valued at about $476,000. Finally, Csenge Advisory Group raised its position in shares of FedEx by 14.9% in the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after acquiring an additional 298 shares during the period. 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.