FedEx (NYSE:FDX) Stock Price Up 1.1%

FedEx Co. (NYSE:FDX) traded up 1.1% during mid-day trading on Tuesday . The company traded as high as $273.65 and last traded at $273.18. 231,983 shares changed hands during trading, a decline of 89% from the average session volume of 2,048,159 shares. The stock had previously closed at $270.15.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Morgan Stanley boosted their price target on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. BMO Capital Markets boosted their price target on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Bank of America lowered their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Finally, Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Trading Down 2.1 %

The firm has a market capitalization of $65.48 billion, a PE ratio of 15.35, a PEG ratio of 1.28 and a beta of 1.21. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock’s fifty day simple moving average is $261.03 and its 200 day simple moving average is $254.36.

FedEx (NYSE:FDX) last announced its earnings results 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 net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the prior year, the company earned $3.41 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts predict that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid 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 1.89%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

FedEx announced that its Board of Directors has initiated a share buyback program 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 programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at FedEx

In other news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the sale, 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 filing with the SEC, which is accessible through the SEC website. In related news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now 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 over the last three months. Corporate insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC lifted its holdings in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC purchased a new position in FedEx during the 4th quarter valued at about $25,000. Financial Management Professionals Inc. increased its position in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC purchased a new position in FedEx during the 4th quarter valued at about $28,000. Finally, Rakuten Securities Inc. purchased a new position in FedEx during the 4th quarter valued at about $30,000. Institutional investors own 84.47% of the company’s stock.

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.