FedEx (NYSE:FDX) Trading Down 1.3%

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

Analysts Set New Price Targets

A number of brokerages recently commented on FDX. Jefferies Financial Group increased their price target on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Stifel Nicolaus lowered their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. BNP Paribas reiterated an “underperform” rating and issued a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. The Goldman Sachs Group increased their price target on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Morgan Stanley raised their price objective on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The stock has a market cap of $64.74 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.25 and a beta of 1.21. The stock has a 50-day moving average price of $258.30 and a two-hundred day moving average price of $254.11.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the firm earned $3.41 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.92%. FedEx’s dividend payout ratio is currently 29.07%.

FedEx announced that its Board of Directors has approved a share buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently modified their holdings of the business. KRS Capital Management LLC increased its stake in shares of FedEx by 4.1% in the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after purchasing an additional 41 shares in the last quarter. Zullo Investment Group Inc. increased its stake in shares of FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after purchasing an additional 42 shares in the last quarter. Toth Financial Advisory Corp increased its stake in shares of FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares in the last quarter. SVB Wealth LLC increased its stake in shares of FedEx by 2.5% in the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after purchasing an additional 44 shares in the last quarter. Finally, Family Legacy Inc. increased its stake in shares of FedEx by 3.2% in the 3rd quarter. Family Legacy Inc. now owns 1,439 shares of the shipping service provider’s stock valued at $381,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors 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.