FedEx (NYSE:FDX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a research report released on Friday morning.

Other equities research analysts have also issued reports about the stock. HSBC lowered shares of FedEx from a buy rating to a hold rating and set a $300.00 price objective on the stock. in a report on Friday. TD Cowen lowered their price objective on FedEx from $334.00 to $328.00 and set a buy rating for the company in a research report on Friday. Susquehanna cut their target price on FedEx from $345.00 to $330.00 and set a positive rating on the stock in a research report on Friday. Argus boosted their target price on FedEx from $325.00 to $335.00 and gave the stock a buy rating in a research note on Thursday, June 27th. Finally, Bernstein Bank increased their price target on shares of FedEx from $305.00 to $337.00 and gave the company an overweight rating in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $314.74.

FedEx Stock Performance

NYSE:FDX opened at $258.82 on Friday. The company has a market cap of $63.69 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84. The company has a fifty day simple moving average of $291.50 and a two-hundred day simple moving average of $275.28.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the firm posted $4.55 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.13%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Buying and Selling

In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 over the last ninety days. Corporate insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its stake in FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC boosted its stake in FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares in the last quarter. Ascent Wealth Partners LLC grew its holdings in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the period. Detalus Advisors LLC raised its position in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after acquiring an additional 37 shares in the last quarter. Finally, Sachetta LLC lifted its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds 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.