FedEx (NYSE:FDX) Shares Up 0.4% – Here’s Why

FedEx Co. (NYSE:FDX) shares shot up 0.4% during mid-day trading on Tuesday . The stock traded as high as $269.07 and last traded at $268.53. 384,172 shares changed hands during trading, a decline of 79% from the average session volume of 1,849,869 shares. The stock had previously closed at $267.45.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bernstein Bank increased their target price on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Raymond James lowered their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Stifel Nicolaus lowered their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, TD Cowen dropped their price target on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Trading Up 0.9 %

The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average is $280.25 and its two-hundred day moving average is $275.05. The company has a market capitalization of $67.51 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $4.55 EPS. As a group, sell-side analysts predict that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is 32.04%.

Institutional Investors Weigh In On FedEx

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Capital International Investors boosted its stake in FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares during 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.