FedEx (NYSE:FDX) Stock Price Down 1.6%

FedEx Co. (NYSE:FDX)’s stock price was down 1.6% during trading on Friday . The stock traded as low as $162.42 and last traded at $162.96. Approximately 53,209 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 2,077,706 shares. The stock had previously closed at $165.67.

Several equities research analysts have commented on FDX shares. Cowen reiterated an “outperform” rating and issued a $237.00 price objective (down previously from $242.00) on shares of FedEx in a research note on Thursday, March 14th. Raymond James decreased their price objective on shares of FedEx from $235.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Barclays decreased their price objective on shares of FedEx from $235.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 20th. Finally, KeyCorp decreased their price objective on shares of FedEx from $240.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $202.43.

The stock has a market cap of $43.17 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.80 and a beta of 1.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.40 and a current ratio of 1.46.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The company had revenue of $17.01 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the prior year, the company earned $3.72 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, equities analysts anticipate that FedEx Co. will post 15.42 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Monday, June 24th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, June 21st. FedEx’s dividend payout ratio is currently 16.98%.

In related news, EVP Alan B. Graf, Jr. sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $173.30, for a total value of $4,679,100.00. Following the completion of the transaction, the executive vice president now directly owns 200,320 shares of the company’s stock, valued at approximately $34,715,456. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frederick W. Smith sold 155,650 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the completion of the transaction, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The disclosure for this sale can be found here. Insiders have sold a total of 185,650 shares of company stock valued at $34,751,470 over the last three months. Insiders own 8.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc boosted its position in FedEx by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock valued at $4,670,511,000 after purchasing an additional 96,084 shares during the period. Buckingham Capital Management Inc. boosted its position in FedEx by 1.6% during the 4th quarter. Buckingham Capital Management Inc. now owns 8,871 shares of the shipping service provider’s stock valued at $1,431,000 after purchasing an additional 137 shares during the period. Regal Investment Advisors LLC boosted its position in FedEx by 5.6% during the 4th quarter. Regal Investment Advisors LLC now owns 2,276 shares of the shipping service provider’s stock valued at $367,000 after purchasing an additional 120 shares during the period. SeaBridge Investment Advisors LLC acquired a new position in FedEx during the 4th quarter valued at approximately $981,000. Finally, Parkside Investments LLC boosted its position in FedEx by 50.2% during the 4th quarter. Parkside Investments LLC now owns 21,485 shares of the shipping service provider’s stock worth $3,466,000 after acquiring an additional 7,180 shares during the period. 69.45% of the stock is owned by institutional investors.

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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.

Read More: Gross Domestic Product (GDP)

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