FedEx (NYSE:FDX) Reaches New 52-Week Low – Here’s What Happened

FedEx Co. (NYSE:FDX)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $241.78 and last traded at $243.74, with a volume of 346104 shares traded. The stock had previously closed at $246.51.

Wall Street Analyst Weigh In

FDX has been the topic of several research reports. Truist Financial started coverage on shares of FedEx in a report on Thursday. They issued a “buy” rating and a $305.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company lowered their price objective on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Raymond James lowered FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $318.04.

FedEx Stock Down 1.1 %

The firm has a 50 day moving average price of $264.35 and a 200-day moving average price of $275.13. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market cap of $57.98 billion, a PE ratio of 15.34, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.99 earnings per share. Research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. bLong Financial LLC acquired a new position in FedEx during the fourth quarter worth approximately $391,000. Virtu Financial LLC acquired a new position in shares of FedEx in the third quarter valued at approximately $3,405,000. Lodestone Wealth Management LLC acquired a new position in shares of FedEx in the fourth quarter valued at approximately $461,000. Wedmont Private Capital grew its holdings in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the period. Finally, GFS Advisors LLC acquired a new position in FedEx during the fourth quarter worth $26,855,000. Institutional investors and hedge funds 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.