FedEx (NYSE:FDX) Stock Price Down 1.2%

FedEx Co. (NYSE:FDX)’s share price was down 1.2% on Thursday . The stock traded as low as $262.44 and last traded at $263.83. Approximately 232,458 shares traded hands during trading, a decline of 88% from the average daily volume of 1,875,258 shares. The stock had previously closed at $266.93.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. TD Cowen reduced their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. The Goldman Sachs Group cut their price objective on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.74.

FedEx Price Performance

The company has a market cap of $64.84 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.04 and a beta of 1.17. The company’s 50-day moving average price is $286.13 and its two-hundred day moving average price is $275.85. 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 quarterly earnings data 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 during 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 firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 earnings per share. As a group, sell-side analysts expect that FedEx Co. will post 19.66 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated 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 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 accessible through the SEC website. In related 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 transaction of $607,821.94. Following 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 filing with the SEC, which is available through the SEC website. Also, Director Marvin R. Ellison sold 2,535 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $299.34, for a total value of $758,826.90. Following the transaction, the director now directly owns 6,955 shares of the company’s stock, valued at $2,081,909.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,914 shares of company stock valued at $3,978,338. 8.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FedEx

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fortis Group Advisors LLC lifted its stake in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter valued at $25,000. Central Valley Advisors LLC bought a new stake in shares of FedEx during the 2nd quarter worth $39,000. Security National Bank acquired a new position in shares of FedEx in the 4th quarter worth $44,000. Finally, Abound Wealth Management raised its position in shares of 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 purchasing an additional 95 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

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.