HSBC Lowers FedEx (NYSE:FDX) to Hold

FedEx (NYSE:FDX) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Briefing.com reports. They currently have a $300.00 price target on the shipping service provider’s stock. HSBC’s price target points to a potential downside of 0.13% from the stock’s current price.

A number of other research analysts also recently weighed in on FDX. Stifel Nicolaus reissued a “buy” rating and set a $327.00 target price (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Argus increased their price objective on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company boosted their target price on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Stephens reiterated an “overweight” rating and set a $325.00 price target on shares of FedEx in a research note on Wednesday, June 26th. Finally, Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $215.00 to $200.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $311.63.

FedEx Stock Performance

Shares of FedEx stock opened at $300.39 on Friday. The company has a market cap of $73.92 billion, a P/E ratio of 17.43, a PEG ratio of 1.03 and a beta of 1.17. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $293.32 and a two-hundred day moving average price of $274.80. FedEx has a 1-year low of $224.69 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.55 earnings per share. As a group, analysts anticipate that FedEx will post 20.82 EPS for the current year.

Insiders Place Their Bets

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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brie Carere sold 1,958 shares of FedEx 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 in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC raised its position 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 worth $1,683,000 after buying an additional 34 shares in the last quarter. LRI Investments LLC raised its holdings in 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 lifted 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 purchasing an additional 36 shares during the period. Detalus Advisors LLC boosted its stake in FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC increased its position 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 during the period. 84.47% of the stock is currently 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.