FedEx (NYSE:FDX) Trading Up 0.3%

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FDX shares. Jefferies Financial Group boosted their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. BMO Capital Markets boosted their target price 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. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. TD Cowen upped their price objective on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Robert W. Baird upped their price objective on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $301.33.

FedEx Price Performance

The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock has a market cap of $66.85 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The business’s 50-day simple moving average is $260.44 and its two-hundred day simple moving average is $254.28.

FedEx (NYSE:FDX) last issued its earnings results 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. The firm had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business earned $3.41 earnings per share. Sell-side analysts expect that FedEx Co. will post 17.67 EPS for the current year.

FedEx Announces Dividend

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

FedEx declared that its board has approved a share repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the sale, the vice president now directly owns 486 shares of the company’s stock, valued at $140,507.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FDX. Fortis Group Advisors LLC increased its stake in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC purchased a new position in shares of FedEx in the fourth quarter worth $25,000. Financial Management Professionals Inc. increased its stake in shares of FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC purchased a new position in shares of FedEx in the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. purchased a new position in shares of FedEx in the fourth quarter worth $30,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

About FedEx

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.