FedEx (NYSE:FDX) Stock Price Down 0.3% – What’s Next?

FedEx Co. (NYSE:FDX)’s share price dropped 0.3% during mid-day trading on Monday . The company traded as low as $258.10 and last traded at $259.95. Approximately 252,759 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,873,206 shares. The stock had previously closed at $260.84.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FDX shares. StockNews.com downgraded FedEx from a “buy” rating to a “hold” rating in a research report on Sunday. Bank of America decreased their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. TD Cowen cut their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Susquehanna dropped their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $314.74.

FedEx Stock Down 0.8 %

The stock has a 50-day moving average price of $284.62 and a 200-day moving average price of $276.05. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market capitalization of $63.69 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last posted 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the business posted $4.55 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is 32.04%.

Insider Buying and Selling

In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on 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 approximately $6,189,042.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Brie Carere sold 1,958 shares of FedEx 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 transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 12,914 shares of company stock valued at $3,978,338. 8.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital International Investors grew its stake in 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 purchasing an additional 2,163,622 shares during the period. Sentry LLC bought a new position in FedEx during the fourth quarter valued at about $307,007,000. Vanguard Group Inc. increased its holdings 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 buying an additional 1,056,061 shares during the last quarter. Putnam Investments LLC raised its position in FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after acquiring an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. boosted its stake in 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 acquiring an additional 684,679 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.