FedEx (NYSE:FDX) Stock Price Down 1%

FedEx Co. (NYSE:FDX)’s share price traded down 1% during mid-day trading on Wednesday . The stock traded as low as $264.25 and last traded at $264.50. 395,077 shares changed hands during trading, a decline of 79% from the average session volume of 1,870,504 shares. The stock had previously closed at $267.13.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus dropped their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. UBS Group dropped their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Bernstein Bank lifted their target price on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. BMO Capital Markets dropped their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Finally, StockNews.com lowered shares of FedEx from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.74.

FedEx Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock’s 50-day simple moving average is $290.58 and its 200-day simple moving average is $275.42. The firm has a market capitalization of $64.56 billion, a PE ratio of 15.33, a P/E/G ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.55 earnings per share. As a group, sell-side analysts expect that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Insider Transactions at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last three months. 8.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

Hedge funds have recently bought and sold shares of the company. Precision Wealth Strategies LLC bought a new position in FedEx during the 4th quarter valued at about $324,000. Johnson Financial Group Inc. lifted its stake in FedEx by 260.0% during the 4th quarter. Johnson Financial Group Inc. now owns 180 shares of the shipping service provider’s stock valued at $46,000 after acquiring an additional 130 shares during the period. Parallel Advisors LLC increased its position in shares of FedEx by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 18,029 shares of the shipping service provider’s stock valued at $4,561,000 after purchasing an additional 328 shares during the last quarter. Mitchell Sinkler & Starr PA purchased a new stake in shares of FedEx during the 4th quarter valued at about $299,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of FedEx by 42.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,865 shares of the shipping service provider’s stock valued at $3,254,000 after purchasing an additional 3,861 shares during the last quarter. 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.