FedEx (NYSE:FDX) Trading Down 5.1% – Here’s Why

FedEx Co. (NYSE:FDX)’s share price was down 5.1% on Monday . The stock traded as low as $246.72 and last traded at $251.41. Approximately 1,189,326 shares changed hands during trading, a decline of 24% from the average daily volume of 1,570,078 shares. The stock had previously closed at $264.87.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays upped their price target on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Bank of America increased their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. BMO Capital Markets lifted their price target on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, UBS Group raised their price objective on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Price Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $59.93 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.10 and a beta of 1.18. The company has a fifty day simple moving average of $279.62 and a two-hundred day simple moving average of $282.02.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $3.99 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.22%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several institutional investors have recently made changes to their positions in FDX. Transcend Capital Advisors LLC grew its stake in FedEx by 3.7% in the 4th quarter. Transcend Capital Advisors LLC now owns 5,761 shares of the shipping service provider’s stock worth $1,621,000 after buying an additional 203 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its position in FedEx by 14.3% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 4,800 shares of the shipping service provider’s stock valued at $1,350,000 after acquiring an additional 600 shares in the last quarter. ING Groep NV increased its stake in shares of FedEx by 131.3% in the 4th quarter. ING Groep NV now owns 76,409 shares of the shipping service provider’s stock worth $21,496,000 after acquiring an additional 43,368 shares in the last quarter. O Brien Greene & Co. Inc boosted its position in shares of FedEx by 0.9% in the 4th quarter. O Brien Greene & Co. Inc now owns 17,537 shares of the shipping service provider’s stock worth $4,934,000 after purchasing an additional 152 shares in the last quarter. Finally, Boston Financial Mangement LLC increased its holdings in shares of FedEx by 12.3% during the fourth quarter. Boston Financial Mangement LLC now owns 916 shares of the shipping service provider’s stock valued at $258,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other 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.