FedEx (NYSE:FDX) Trading Down 1.3%

FedEx Co. (NYSE:FDX) shares were down 1.3% on Tuesday . The stock traded as low as $263.20 and last traded at $263.26. Approximately 178,921 shares were traded during trading, a decline of 91% from the average daily volume of 2,091,948 shares. The stock had previously closed at $266.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank Of America (Bofa) raised their price objective on shares of FedEx from $330.00 to $334.00 in a research report on Wednesday, December 20th. Stephens reduced their price objective on shares of FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, December 20th. Robert W. Baird increased their target price on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. TD Cowen increased their target price on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Jefferies Financial Group increased their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Price Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a market cap of $64.74 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21. The business’s fifty day simple moving average is $258.30 and its 200 day simple moving average is $254.11.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.41 EPS. Research analysts predict that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.92%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

FedEx announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently bought and sold shares of the business. KRS Capital Management LLC raised its stake in FedEx by 4.1% during the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after acquiring an additional 41 shares during the period. Zullo Investment Group Inc. grew its position in FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after purchasing an additional 42 shares during the last quarter. Toth Financial Advisory Corp grew its position in FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after purchasing an additional 44 shares during the last quarter. SVB Wealth LLC grew its position in FedEx by 2.5% in the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after purchasing an additional 44 shares during the last quarter. Finally, Family Legacy Inc. grew its position in FedEx by 3.2% in the 3rd quarter. Family Legacy Inc. now owns 1,439 shares of the shipping service provider’s stock worth $381,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Company Profile

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.