FedEx (NYSE:FDX) Downgraded by Morgan Stanley

Morgan Stanley lowered shares of FedEx (NYSE:FDX) from an equal weight rating to an underweight rating in a research note published on Friday morning, Marketbeat Ratings reports. They currently have $200.00 price objective on the shipping service provider’s stock, down from their prior price objective of $215.00.

Several other analysts also recently weighed in on the company. Oppenheimer reissued a market perform rating on shares of FedEx in a report on Wednesday, June 26th. Evercore ISI reduced their price objective on FedEx from $339.00 to $335.00 and set an outperform rating for the company in a report on Thursday, September 12th. Stephens reaffirmed an overweight rating and issued a $325.00 target price on shares of FedEx in a research note on Wednesday, June 26th. Raymond James cut their price target on FedEx from $325.00 to $300.00 and set an outperform rating for the company in a report on Monday, June 24th. Finally, The Goldman Sachs Group upped their price objective on FedEx from $316.00 to $333.00 and gave the stock a buy rating in a report on Wednesday, June 26th. Two 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. According to data from MarketBeat.com, FedEx presently has a consensus rating of Moderate Buy and an average price target of $314.74.

FedEx Stock Performance

FDX opened at $258.82 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84. The firm has a fifty day moving average price of $291.50 and a 200 day moving average price of $275.28. The stock has a market cap of $63.69 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last issued 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). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.55 earnings per share. Equities research analysts anticipate that FedEx will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

Insider Activity

In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the transaction, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 over the last quarter. Insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

Institutional investors and hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. boosted its stake in shares of FedEx by 93.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 5,741 shares of the shipping service provider’s stock worth $1,721,000 after acquiring an additional 2,777 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in FedEx in the 2nd quarter valued at about $10,018,000. Clearbridge Investments LLC lifted its position in shares of FedEx by 63.9% in the 2nd quarter. Clearbridge Investments LLC now owns 7,917 shares of the shipping service provider’s stock worth $2,374,000 after purchasing an additional 3,087 shares during the period. New Century Financial Group LLC lifted its position in shares of FedEx by 148.7% in the 2nd quarter. New Century Financial Group LLC now owns 5,293 shares of the shipping service provider’s stock worth $1,587,000 after purchasing an additional 3,165 shares during the period. Finally, Ariadne Wealth Management LP purchased a new stake in FedEx during the second quarter valued at approximately $103,000. 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.