FedEx (NYSE:FDX) Trading 0.9% Higher

FedEx Co. (NYSE:FDX)’s share price traded up 0.9% during trading on Monday . The company traded as high as $271.61 and last traded at $270.11. 209,337 shares changed hands during trading, a decline of 90% from the average session volume of 2,107,542 shares. The stock had previously closed at $267.80.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Stifel Nicolaus decreased their target price on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. TD Cowen lifted their price target on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Finally, Evercore ISI boosted their price objective on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Trading Down 0.7 %

The company has a market cap of $65.18 billion, a PE ratio of 15.27, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $257.89 and a two-hundred day simple moving average of $254.05.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the prior year, the business posted $3.41 EPS. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts anticipate that FedEx Co. will post 17.67 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. FedEx’s payout ratio is currently 29.07%.

FedEx announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the transaction, the director now directly owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock valued at $37,758,773 in the last three months. 8.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Fortis Group Advisors LLC boosted its holdings in 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 acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of FedEx during the fourth quarter worth about $25,000. Financial Management Professionals Inc. lifted its stake in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of FedEx during the fourth quarter worth about $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of FedEx during the fourth quarter worth about $30,000. Institutional investors and hedge funds 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.