FedEx (NYSE:FDX) Trading Up 2.4%

FedEx Co. (NYSE:FDX) shares shot up 2.4% on Tuesday . The stock traded as high as $265.95 and last traded at $265.03. 1,505,231 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 1,863,841 shares. The stock had previously closed at $258.79.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FDX. Evercore ISI decreased their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Loop Capital decreased their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday. Stephens reissued an “overweight” rating and set a $350.00 target price on shares of FedEx in a report on Friday, September 20th. Argus lifted their price target on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $314.74.

FedEx Stock Performance

The stock has a 50 day moving average price of $289.65 and a two-hundred day moving average price of $275.34. The company has a market capitalization of $65.07 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

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). The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.55 earnings per share. On average, analysts predict that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.07%. FedEx’s payout ratio is presently 32.04%.

Insider Transactions at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction 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 transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 in the last quarter. 8.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FDX. Precision Wealth Strategies LLC acquired a new position in FedEx during the fourth quarter valued at approximately $324,000. Steward Partners Investment Advisory LLC grew its stake in shares of FedEx by 42.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,865 shares of the shipping service provider’s stock valued at $3,254,000 after buying an additional 3,861 shares in the last quarter. TD Asset Management Inc raised its position in FedEx by 6.7% during the fourth quarter. TD Asset Management Inc now owns 85,373 shares of the shipping service provider’s stock worth $21,597,000 after acquiring an additional 5,350 shares in the last quarter. Stifel Financial Corp lifted its stake in FedEx by 1.7% in the fourth quarter. Stifel Financial Corp now owns 333,777 shares of the shipping service provider’s stock valued at $84,452,000 after acquiring an additional 5,689 shares during the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $2,140,000. 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.