FedEx (NYSE:FDX) Reaches New 12-Month High – Here’s Why

FedEx Corporation (NYSE:FDX)’s stock price reached a new 52-week high on Friday . The company traded as high as $342.81 and last traded at $338.0690, with a volume of 60090 shares traded. The stock had previously closed at $338.00.

Analysts Set New Price Targets

Several analysts have recently issued reports on FDX shares. Wall Street Zen raised shares of FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. BNP Paribas Exane reduced their target price on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Stephens restated an “overweight” rating and set a $435.00 price target on shares of FedEx in a research note on Tuesday, April 14th. Citigroup started coverage on FedEx in a report on Thursday, May 21st. They issued a “buy” rating and a $443.00 price objective on the stock. Finally, Zacks Research lowered FedEx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $371.45.

FedEx Stock Performance

The firm has a market capitalization of $80.56 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.45 and a beta of 1.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The stock’s fifty day moving average is $372.27 and its two-hundred day moving average is $342.68.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.51 EPS. Analysts forecast that FedEx Corporation will post 19.72 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be issued a $1.22 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.4%. FedEx’s dividend payout ratio is currently 30.87%.

Insiders Place Their Bets

In other FedEx news, EVP Kawal Preet sold 4,900 shares of FedEx stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the sale, the executive vice president directly owned 10,953 shares in the company, valued at $4,029,499.17. The trade was a 30.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total value of $2,138,355.00. Following the completion of the transaction, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. The trade was a 36.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,104 shares of company stock worth $17,599,006 in the last quarter. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FDX. Hollencrest Capital Management acquired a new stake in shares of FedEx in the 1st quarter valued at about $25,000. Bayban acquired a new position in FedEx in the first quarter worth about $26,000. EFG International AG bought a new stake in FedEx in the fourth quarter valued at about $27,000. Wealth Watch Advisors INC bought a new stake in FedEx in the third quarter valued at about $28,000. Finally, Ameriflex Group Inc. raised its stake in FedEx by 103.3% during the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock valued at $29,000 after buying an additional 63 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.