FedEx (NYSE:FDX) Announces Earnings Results

FedEx (NYSE:FDX) released its earnings results on Tuesday. The shipping service provider reported $5.88 earnings per share for the quarter, FiscalAI reports. The business had revenue of $22.19 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.

FedEx Price Performance

NYSE FDX opened at $321.41 on Thursday. The company has a market cap of $76.04 billion, a PE ratio of 17.36, a P/E/G ratio of 1.62 and a beta of 1.29. The firm’s 50 day moving average price is $338.48 and its 200-day moving average price is $350.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. FedEx has a 52-week low of $172.88 and a 52-week high of $345.36.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were paid a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FedEx

A number of institutional investors have recently added to or reduced their stakes in the stock. Hudson Value Partners LLC grew its stake in FedEx by 32.7% in the second quarter. Hudson Value Partners LLC now owns 5,776 shares of the shipping service provider’s stock valued at $1,809,000 after purchasing an additional 1,422 shares during the last quarter. Tema ETFs LLC lifted its position in shares of FedEx by 9.2% during the second quarter. Tema ETFs LLC now owns 3,448 shares of the shipping service provider’s stock valued at $1,080,000 after buying an additional 290 shares during the last quarter. E. Ohman J or Asset Management AB boosted its holdings in shares of FedEx by 4.1% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 7,655 shares of the shipping service provider’s stock valued at $2,397,000 after buying an additional 300 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of FedEx by 9.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 115,179 shares of the shipping service provider’s stock valued at $36,066,000 after buying an additional 9,783 shares in the last quarter. Finally, BFI Infinity Ltd. raised its stake in shares of FedEx by 3.9% during the 2nd quarter. BFI Infinity Ltd. now owns 10,988 shares of the shipping service provider’s stock worth $3,441,000 after acquiring an additional 409 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FDX. Wells Fargo & Company reduced their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Wolfe Research lowered their price objective on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Seaport Research Partners assumed coverage on shares of FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating on the stock. BNP Paribas Exane reduced their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Finally, Stifel Nicolaus decreased their price target on shares of FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.