FedEx (NYSE:FDX) Downgraded by StockNews.com to Hold

StockNews.com cut shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a report released on Friday morning.

FDX has been the topic of a number of other reports. Evercore ISI lowered their target price on FedEx from $335.00 to $318.00 and set an outperform rating on the stock in a report on Friday. TD Cowen dropped their target price on shares of FedEx from $334.00 to $328.00 and set a buy rating on the stock in a report on Friday. BMO Capital Markets reduced their target price on shares of FedEx from $325.00 to $300.00 and set a market perform rating for the company in a report on Friday. UBS Group dropped their price target on FedEx from $333.00 to $311.00 and set a buy rating on the stock in a report on Friday. Finally, Argus raised their price objective on FedEx from $325.00 to $335.00 and gave the stock a buy rating in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, FedEx has an average rating of Moderate Buy and a consensus target price of $312.84.

FedEx Trading Down 15.2 %

Shares of NYSE:FDX opened at $254.63 on Friday. The company has a 50 day moving average of $292.43 and a 200-day moving average of $274.85. 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 firm has a market cap of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84.

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

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Buying and Selling

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of FedEx 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 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 is available through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction 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 transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Several large investors have recently made changes to their positions in FDX. Vanguard Group Inc. boosted its position in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Capital International Investors boosted its holdings in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares during the period. Putnam Investments LLC grew its stake in FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after acquiring an additional 684,679 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

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.