FedEx (NYSE:FDX) Stock Price Up 1.8%

FedEx Co. (NYSE:FDX)’s share price traded up 1.8% on Friday . The stock traded as high as $269.10 and last traded at $268.09. 425,660 shares traded hands during trading, a decline of 79% from the average session volume of 2,062,758 shares. The stock had previously closed at $263.37.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FDX. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. BNP Paribas reissued an “underperform” rating and set a $250.00 price target on shares of FedEx in a research report on Wednesday, March 27th. Evercore ISI raised their price objective on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Robert W. Baird boosted 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. Finally, BMO Capital Markets raised their price target on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Stock Performance

The stock has a 50-day moving average price of $258.74 and a 200 day moving average price of $254.17. The firm has a market capitalization of $65.89 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 1.24 and a beta of 1.21. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last posted its quarterly 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 company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.41 EPS. On average, analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

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

Insider Transactions at FedEx

In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,668 shares of company stock valued at $37,758,773. Corporate insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in FedEx by 11.0% during the 3rd 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. purchased a new stake in shares of FedEx in the fourth quarter valued at about $282,000. Planned Solutions Inc. acquired a new stake in shares of FedEx during the fourth quarter worth about $32,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings 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 buying an additional 13,642 shares during the last quarter. Finally, Skba Capital Management LLC increased its position in FedEx by 0.3% in the 3rd 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. 84.47% of the stock is owned by institutional investors and hedge funds.

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.