FedEx Co. (NYSE:FDX)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $161.84, but opened at $158.03. FedEx shares last traded at $151.14, with a volume of 3,803,799 shares trading hands.
FDX has been the topic of a number of recent analyst reports. ValuEngine cut FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Robert W. Baird decreased their price objective on FedEx from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. set a $140.00 target price on FedEx and gave the company a “neutral” rating in a research report on Friday, October 4th. Raymond James cut their target price on FedEx from $190.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Finally, Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and set a $153.00 price target for the company. in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $170.40.
The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.25 and a current ratio of 1.31. The company has a market cap of $39.45 billion, a P/E ratio of 9.74, a P/E/G ratio of 1.10 and a beta of 1.71. The stock has a 50 day moving average price of $156.96 and a 200 day moving average price of $159.08.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 9th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.72%. FedEx’s payout ratio is currently 16.75%.
In related news, Director John A. Edwardson acquired 5,000 shares of FedEx stock in a transaction dated Thursday, October 31st. The stock was acquired at an average cost of $151.75 per share, with a total value of $758,750.00. Following the purchase, the director now directly owns 62,966 shares in the company, valued at approximately $9,555,090.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R Brad Martin bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the completion of the acquisition, the director now directly owns 49,046 shares in the company, valued at $7,111,670. The disclosure for this purchase can be found here. 8.44% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. InterOcean Capital LLC increased its position in shares of FedEx by 8.0% in the second quarter. InterOcean Capital LLC now owns 160,442 shares of the shipping service provider’s stock worth $26,343,000 after acquiring an additional 11,932 shares in the last quarter. Greylin Investment Mangement Inc. raised its stake in FedEx by 25.7% during the 2nd quarter. Greylin Investment Mangement Inc. now owns 10,717 shares of the shipping service provider’s stock valued at $1,760,000 after purchasing an additional 2,194 shares during the period. Baker Ellis Asset Management LLC raised its stake in FedEx by 4.2% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 4,950 shares of the shipping service provider’s stock valued at $813,000 after purchasing an additional 200 shares during the period. Fiduciary Group LLC lifted its holdings in shares of FedEx by 17.0% in the second quarter. Fiduciary Group LLC now owns 30,394 shares of the shipping service provider’s stock valued at $4,990,000 after purchasing an additional 4,421 shares in the last quarter. Finally, Capital Investment Counsel Inc lifted its holdings in shares of FedEx by 39.1% in the third quarter. Capital Investment Counsel Inc now owns 36,872 shares of the shipping service provider’s stock valued at $5,367,000 after purchasing an additional 10,361 shares in the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.
FedEx Company Profile (NYSE:FDX)
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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