FedEx (NYSE:FDX) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a research report sent to investors on Sunday.

A number of other research analysts have also issued reports on FDX. Hsbc Global Res lowered FedEx from a strong-buy rating to a hold rating in a report on Friday, September 20th. UBS Group cut their target price on shares of FedEx from $333.00 to $311.00 and set a buy rating on the stock in a research note on Friday, September 20th. Wells Fargo & Company lifted their price target on shares of FedEx from $275.00 to $300.00 and gave the stock an equal weight rating in a research note on Wednesday, June 26th. Evercore ISI dropped their price objective on shares of FedEx from $335.00 to $318.00 and set an outperform rating on the stock in a research report on Friday, September 20th. Finally, TD Cowen decreased 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. 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 MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $314.74.

FedEx Stock Up 0.3 %

Shares of NYSE:FDX opened at $261.28 on Friday. The firm has a market capitalization of $64.30 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84. 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 firm’s 50-day moving average is $283.84 and its two-hundred day moving average is $276.02.

FedEx (NYSE:FDX) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the previous year, the company earned $4.55 earnings per share. FedEx’s quarterly revenue was down .5% on a year-over-year basis. Analysts predict that FedEx will post 19.66 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Insider Buying and Selling at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,914 shares of company stock valued at $3,978,338. 8.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

A number of large investors have recently added to or reduced their stakes in FDX. Fortis Group Advisors LLC grew its position in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in FedEx in the 4th quarter valued at approximately $25,000. Central Valley Advisors LLC acquired a new stake in FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management increased its position in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares in the last quarter. Finally, Sachetta LLC raised its holdings in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

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.