FedEx (NYSE:FDX) Stock Price Up 0.3%

FedEx Co. (NYSE:FDX)’s stock price rose 0.3% during mid-day trading on Monday . The company traded as high as $269.60 and last traded at $267.81. Approximately 185,102 shares traded hands during trading, a decline of 91% from the average daily volume of 2,058,006 shares. The stock had previously closed at $266.99.

Analysts Set New Price Targets

FDX has been the topic of a number of recent research reports. Stifel Nicolaus reduced their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research note on Monday, January 8th. Evercore ISI raised their price objective on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Morgan Stanley raised their price objective on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Finally, Jefferies Financial Group raised their target price on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $301.33.

FedEx Stock Performance

The company has a market capitalization of $66.82 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The business’s fifty day moving average is $259.22 and its two-hundred day moving average is $254.10. 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 announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the business earned $3.41 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts predict that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

FedEx announced that its board has approved a share repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal 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 shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now directly 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 valued at $37,758,773. Company insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CWM LLC lifted its stake in FedEx by 4.9% in the 3rd quarter. CWM LLC now owns 6,327 shares of the shipping service provider’s stock worth $1,676,000 after purchasing an additional 293 shares in the last quarter. IFP Advisors Inc raised its position in shares of FedEx by 9.3% during the 3rd quarter. IFP Advisors Inc now owns 1,945 shares of the shipping service provider’s stock valued at $517,000 after buying an additional 165 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of FedEx during the 3rd quarter valued at about $790,000. LexAurum Advisors LLC purchased a new stake in shares of FedEx during the 3rd quarter valued at about $204,000. Finally, Naples Global Advisors LLC raised its position in shares of FedEx by 1.2% during the 3rd quarter. Naples Global Advisors LLC now owns 4,081 shares of the shipping service provider’s stock valued at $1,086,000 after buying an additional 50 shares in the last quarter. 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.