FedEx (NYSE:FDX) Downgraded by StockNews.com

FedEx (NYSE:FDX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other research firms also recently commented on FDX. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a report on Friday, September 20th. Stifel Nicolaus cut their price target on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Wells Fargo & Company increased their target price on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. BMO Capital Markets reduced 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 report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Trading Down 0.5 %

Shares of FedEx stock opened at $260.84 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a fifty day moving average of $284.62 and a 200 day moving average of $275.94. The company has a market capitalization of $64.19 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.04 and a beta of 1.17. FedEx has a fifty-two week low of $224.69 and a fifty-two week 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 (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the business posted $4.55 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx will post 19.66 earnings per share for the current fiscal year.

Insider Activity at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx 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 completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,914 shares of company stock worth $3,978,338. Company insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 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 valued at $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Capital International Investors boosted its holdings in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares in the last quarter. Putnam Investments LLC grew its position 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 worth $732,040,000 after buying an additional 798,084 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in shares of FedEx by 43.5% during 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 in the last quarter. Finally, Ameriprise Financial Inc. lifted its position 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 valued at $674,336,000 after acquiring an additional 578,350 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other 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.