FedEx (NYSE:FDX) Stock Price Up 1.6% – What’s Next?

FedEx Co. (NYSE:FDX)’s stock price shot up 1.6% during trading on Wednesday . The company traded as high as $266.08 and last traded at $265.64. 278,599 shares changed hands during trading, a decline of 85% from the average session volume of 1,866,705 shares. The stock had previously closed at $261.40.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FDX. StockNews.com downgraded FedEx from a “buy” rating to a “hold” rating in a research report on Sunday. Robert W. Baird reduced their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Argus upped their price target on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. BMO Capital Markets dropped their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Finally, UBS Group lowered their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.17.

FedEx Stock Performance

The firm has a market capitalization of $65.34 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The stock has a 50-day moving average of $283.06 and a 200 day moving average of $275.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.55 earnings per share. On average, research analysts anticipate that FedEx Co. will post 19.66 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is 32.04%.

Insider Activity

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on 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 directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, Director Marvin R. Ellison sold 2,535 shares of FedEx stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $299.34, for a total transaction of $758,826.90. Following the completion of the transaction, the director now directly owns 6,955 shares of the company’s stock, valued at $2,081,909.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,914 shares of company stock worth $3,978,338 over the last ninety days. Insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new stake in shares of FedEx in the fourth quarter valued at about $25,000. Fortis Group Advisors LLC boosted its position in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Central Valley Advisors LLC bought a new stake in shares of FedEx in the second quarter valued at about $39,000. Abound Wealth Management raised its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC raised its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is owned by 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.