FedEx (NYSE:FDX) Shares Up 1.3%

FedEx Co. (NYSE:FDX) rose 1.3% during mid-day trading on Friday . The company traded as high as $270.48 and last traded at $269.71. Approximately 471,765 shares traded hands during trading, a decline of 75% from the average daily volume of 1,873,620 shares. The stock had previously closed at $266.33.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FDX shares. Wells Fargo & Company lifted their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Loop Capital cut their target price on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday. BMO Capital Markets reduced their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Finally, Stifel Nicolaus reduced their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Two equities research 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. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $314.74.

FedEx Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock’s 50 day moving average is $288.84 and its 200-day moving average is $275.28. The company has a market capitalization of $65.56 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last released its earnings results 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 analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.55 EPS. As a group, equities research analysts anticipate that FedEx Co. will post 19.66 earnings per share for the current 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 issued a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.06%. FedEx’s payout ratio is 32.04%.

Insider Transactions at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold a total of 14,399 shares of company stock valued at $4,420,615 in the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in shares of FedEx in the fourth quarter worth about $25,000. Fortis Group Advisors LLC lifted its position in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Central Valley Advisors LLC bought a new position in FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management grew its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC raised its stake in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.