FedEx (NYSE:FDX) Rating Lowered to “Sell” at Loop Capital

Loop Capital downgraded shares of FedEx (NYSE:FDX) from a hold rating to a sell rating in a research report report published on Friday, MarketBeat.com reports. They currently have $221.00 price objective on the shipping service provider’s stock, down from their previous price objective of $283.00.

A number of other equities research analysts also recently issued reports on FDX. BMO Capital Markets boosted their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Wells Fargo & Company cut their price objective on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price objective for the company. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Truist Financial started coverage on shares of FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $301.60.

FedEx Trading Down 6.5 %

NYSE:FDX opened at $230.25 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx has a 12 month low of $217.22 and a 12 month high of $313.84. The company has a market cap of $55.46 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a 50 day simple moving average of $259.95 and a two-hundred day simple moving average of $272.64.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the firm posted $3.86 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts forecast that FedEx will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.40%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Insider Activity

In related news, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently added to or reduced their stakes in FDX. Fortitude Family Office LLC boosted its stake in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares in the last quarter. Transce3nd LLC bought a new position in shares of FedEx during the fourth quarter valued at approximately $26,000. Peoples Financial Services CORP. bought a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. bought a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. Finally, Kentucky Trust Co bought a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. 84.47% of the stock is currently owned by 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.