FedEx (NYSE:FDX) Shares Down 1.3%

FedEx Co. (NYSE:FDX)’s share price traded down 1.3% during mid-day trading on Tuesday . The stock traded as low as $263.20 and last traded at $263.26. 178,921 shares changed hands during mid-day 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

Several equities research analysts recently issued reports on the company. BMO Capital Markets increased their price objective on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. UBS Group increased their price objective on FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Bank Of America (Bofa) raised their price target on FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. Jefferies Financial Group raised their price target on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Finally, Robert W. Baird raised their price target on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $301.33.

FedEx Price Performance

The company has a market cap of $65.10 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company has a fifty day moving average price of $257.41 and a two-hundred day moving average price of $254.05. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

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

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors 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 annualized dividend and a dividend yield of 1.91%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

FedEx declared that its board has approved a stock buyback program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares in the company, valued at $140,507.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, 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 quarter, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FedEx

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of FedEx by 11.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after purchasing an additional 13,197 shares during the period. Trust Point Inc. acquired a new stake in shares of FedEx during the fourth quarter worth $282,000. Planned Solutions Inc. acquired a new stake in shares of FedEx during the fourth quarter worth $32,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of FedEx by 2.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after purchasing an additional 13,642 shares during the period. Finally, Skba Capital Management LLC grew its stake in FedEx by 0.3% in the third quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock valued at $10,417,000 after acquiring an additional 100 shares during the period. Institutional investors 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.