FedEx (NYSE:FDX) Trading Down 1.3%

FedEx Co. (NYSE:FDX) was down 1.3% during mid-day trading on Tuesday . The company traded as low as $269.20 and last traded at $270.01. Approximately 529,519 shares changed hands during trading, a decline of 72% from the average daily volume of 1,879,957 shares. The stock had previously closed at $273.68.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Saturday. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Friday, September 20th. UBS Group dropped their price target on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. TD Cowen reduced their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, The Goldman Sachs Group dropped their target price on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $314.74.

FedEx Stock Performance

The company has a market cap of $66.43 billion, a P/E ratio of 15.67, a PEG ratio of 1.04 and a beta of 1.17. The stock’s 50-day moving average price is $287.38 and its 200-day moving average price is $275.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last issued its quarterly earnings results 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 the consensus estimate of $21.87 billion. During the same quarter last year, the firm posted $4.55 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts anticipate that FedEx Co. will post 19.66 EPS for the current 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 $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insiders Place Their Bets

In other news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold 13,030 shares of company stock worth $4,013,050 over the last ninety days. Corporate insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several hedge funds and other institutional investors have recently made changes to their positions in FDX. SeaCrest Wealth Management LLC boosted its holdings in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares during the period. LRI Investments LLC lifted its holdings in FedEx by 8.6% during the 2nd 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 boosted its stake in FedEx by 0.5% in the 2nd 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 grew its holdings 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 buying an additional 37 shares in the last quarter. Finally, Sachetta LLC increased its position in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is owned by institutional investors.

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.