Traders Buy Shares of FedEx (FDX) on Weakness

Traders bought shares of FedEx Co. (NYSE:FDX) on weakness during trading hours on Friday. $211.02 million flowed into the stock on the tick-up and $66.48 million flowed out of the stock on the tick-down, for a money net flow of $144.54 million into the stock. Of all equities tracked, FedEx had the 16th highest net in-flow for the day. FedEx traded down ($1.10) for the day and closed at $177.98

A number of research analysts have recently weighed in on FDX shares. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, November 20th. Morgan Stanley decreased their target price on FedEx from $240.00 to $230.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 4th. Bank of America downgraded FedEx from a “buy” rating to a “neutral” rating in a research note on Monday, December 10th. Credit Suisse Group decreased their target price on FedEx from $307.00 to $263.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 12th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $256.00 target price on shares of FedEx in a research note on Tuesday, December 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $234.74.

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.42 and a quick ratio of 1.36. The company has a market cap of $46.86 billion, a PE ratio of 11.63, a P/E/G ratio of 0.87 and a beta of 1.63.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.02). FedEx had a return on equity of 24.11% and a net margin of 7.23%. The firm had revenue of $17.82 billion during the quarter, compared to the consensus estimate of $17.71 billion. During the same period in the previous year, the firm earned $3.18 EPS. On average, equities analysts anticipate that FedEx Co. will post 15.91 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, March 8th. FedEx’s payout ratio is 16.98%.

In other news, Director David P. Steiner acquired 7,000 shares of FedEx stock in a transaction on Wednesday, January 2nd. The shares were acquired at an average price of $162.92 per share, with a total value of $1,140,440.00. Following the purchase, the director now directly owns 25,994 shares in the company, valued at approximately $4,234,942.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP John L. Merino sold 2,300 shares of FedEx stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $182.24, for a total value of $419,152.00. Following the completion of the sale, the vice president now directly owns 30,185 shares in the company, valued at approximately $5,500,914.40. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in FDX. HC Financial Advisors Inc. boosted its holdings in shares of FedEx by 5.9% in the 3rd quarter. HC Financial Advisors Inc. now owns 8,333 shares of the shipping service provider’s stock worth $2,007,000 after purchasing an additional 464 shares during the period. Edgestream Partners L.P. purchased a new position in FedEx during the 3rd quarter valued at $522,000. MML Investors Services LLC boosted its holdings in FedEx by 45.2% during the 3rd quarter. MML Investors Services LLC now owns 33,062 shares of the shipping service provider’s stock valued at $7,961,000 after acquiring an additional 10,286 shares during the period. Commonwealth Bank of Australia boosted its holdings in FedEx by 4.0% during the 3rd quarter. Commonwealth Bank of Australia now owns 31,095 shares of the shipping service provider’s stock valued at $7,483,000 after acquiring an additional 1,200 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in FedEx by 108.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,964 shares of the shipping service provider’s stock valued at $714,000 after acquiring an additional 1,541 shares during the period. Hedge funds and other institutional investors own 71.39% of the company’s stock.

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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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