FedEx (NYSE:FDX) Trading Down 0.7%

FedEx Co. (NYSE:FDX)’s share price fell 0.7% during trading on Wednesday . The stock traded as low as $263.16 and last traded at $264.94. 1,421,134 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 2,349,459 shares. The stock had previously closed at $266.74.

Wall Street Analyst Weigh In

FDX has been the topic of several recent research reports. BNP Paribas restated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. TD Cowen increased their target price on FedEx from $293.00 to $320.00 and gave the stock 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. Stifel Nicolaus dropped their target price on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $301.33.

FedEx Trading Up 0.1 %

The stock has a 50 day moving average of $258.74 and a 200 day moving average of $254.17. The firm has a market cap of $64.81 billion, a P/E ratio of 15.19, a PEG ratio of 1.24 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (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 firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the firm earned $3.41 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities research analysts predict that FedEx Co. will post 17.67 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.91%. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

FedEx declared that its Board of Directors has initiated a share buyback plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by insiders.

Institutional Trading of FedEx

A number of institutional investors have recently modified their holdings of the company. Fortis Group Advisors LLC lifted 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 worth $25,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC purchased a new stake in FedEx in the fourth quarter worth about $25,000. Financial Management Professionals Inc. lifted its holdings in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC purchased a new stake in FedEx in the fourth quarter worth about $28,000. Finally, Rakuten Securities Inc. purchased a new stake in FedEx in the fourth quarter worth about $30,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.