Investors Buy Shares of FedEx (FDX) on Weakness

Investors purchased shares of FedEx Co. (NYSE:FDX) on weakness during trading hours on Thursday. $102.87 million flowed into the stock on the tick-up and $70.65 million flowed out of the stock on the tick-down, for a money net flow of $32.22 million into the stock. Of all stocks tracked, FedEx had the 25th highest net in-flow for the day. FedEx traded down ($0.47) for the day and closed at $170.12

A number of equities analysts recently weighed in on FDX shares. Berenberg Bank reiterated a “buy” rating and issued a $245.00 price objective on shares of FedEx in a research report on Monday. Morgan Stanley set a $240.00 price objective on shares of FedEx and gave the company a “hold” rating in a research note on Monday, October 22nd. Zacks Investment Research cut FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $305.00 target price on shares of FedEx in a research note on Tuesday, September 18th. Finally, Credit Suisse Group dropped their target price on FedEx from $263.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company’s stock. FedEx currently has an average rating of “Buy” and an average target price of $237.75.

The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. The firm has a market cap of $42.92 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.81 and a beta of 1.63.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.05 by ($0.02). FedEx had a net margin of 7.23% and a return on equity of 24.11%. The company had revenue of $17.82 billion during the quarter, compared to the consensus estimate of $17.71 billion. During the same quarter in the prior year, the firm posted $3.18 earnings per share. As a group, analysts expect that FedEx Co. will post 15.9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 10th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, December 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.53%. FedEx’s dividend payout ratio (DPR) is presently 16.98%.

In other FedEx news, Director David P. Steiner bought 7,000 shares of FedEx stock in a transaction dated Wednesday, January 2nd. The stock was acquired at an average cost of $162.92 per share, for a total transaction of $1,140,440.00. Following the completion of the transaction, the director now directly owns 25,994 shares of the company’s stock, valued at $4,234,942.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan Patricia Griffith acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were purchased at an average price of $225.16 per share, with a total value of $225,160.00. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in FDX. North Star Investment Management Corp. boosted its position in shares of FedEx by 101.8% during the 4th quarter. North Star Investment Management Corp. now owns 442 shares of the shipping service provider’s stock worth $71,000 after purchasing an additional 223 shares in the last quarter. Palo Capital Inc. purchased a new stake in shares of FedEx during the 3rd quarter worth about $108,000. Virtus Alternative Investment Advisers Inc. purchased a new position in FedEx in the 3rd quarter worth approximately $110,000. Moneta Group Investment Advisors LLC boosted its stake in shares of FedEx by 14,117.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock valued at $114,000 after buying an additional 63,386 shares during the last quarter. Finally, Lenox Wealth Advisors LLC purchased a new position in shares of FedEx during the 3rd quarter valued at approximately $120,000. 72.44% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Investors Buy Shares of FedEx (FDX) on Weakness” was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark & copyright law. The correct version of this story can be read at https://www.chaffeybreeze.com/2019/01/10/investors-buy-shares-of-fedex-fdx-on-weakness.html.

About FedEx (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.

Recommended Story: Diversification in Your Portfolio

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply