FedEx (NYSE:FDX) Downgraded to “Hold” at Hsbc Global Res

Hsbc Global Res cut shares of FedEx (NYSE:FDX) from a strong-buy rating to a hold rating in a research note released on Friday, Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Oppenheimer reissued a market perform rating on shares of FedEx in a report on Wednesday, June 26th. TD Cowen lowered their price target on shares of FedEx from $334.00 to $328.00 and set a buy rating for the company in a report on Friday. UBS Group decreased their price objective on FedEx from $333.00 to $311.00 and set a buy rating on the stock in a research report on Friday. StockNews.com downgraded FedEx from a buy rating to a hold rating in a research report on Friday. Finally, Raymond James cut their price target on FedEx from $335.00 to $330.00 and set a buy rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $312.84.

FedEx Price Performance

Shares of FedEx stock opened at $254.63 on Friday. FedEx has a 1-year low of $224.69 and a 1-year high of $313.84. The firm’s 50-day moving average price is $292.43 and its two-hundred day moving average price is $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 stock has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly 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). The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $4.55 earnings per share. On average, equities analysts predict that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Activity at FedEx

In other news, CAO Guy M. Erwin II sold 116 shares of the company’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 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 this link. In other news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by company insiders.

Institutional Trading of FedEx

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Capital International Investors raised its stake 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 purchasing an additional 2,163,622 shares in the last quarter. Putnam Investments LLC boosted its holdings in shares of 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. grew its stake in shares of FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

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.