FedEx (NYSE:FDX) Stock Rating Lowered by Hsbc Global Res

Hsbc Global Res cut shares of FedEx (NYSE:FDX) from a strong-buy rating to a hold rating in a research note released on Friday, Zacks.com reports.

Several other research analysts also recently weighed in on FDX. TD Cowen cut their price target on FedEx from $334.00 to $328.00 and set a buy rating for the company in a research note on Friday. StockNews.com downgraded shares of FedEx from a buy rating to a hold rating in a research note on Friday. The Goldman Sachs Group dropped their price target on shares of FedEx from $333.00 to $332.00 in a research note on Friday. Daiwa America lowered shares of FedEx from a moderate buy rating to a hold rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. dropped their target price on FedEx from $359.00 to $350.00 and set an overweight rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of Moderate Buy and a consensus target price of $314.74.

FedEx Stock Performance

Shares of FDX stock opened at $258.82 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a market cap of $63.69 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84. The firm’s 50-day simple moving average is $291.50 and its two-hundred day simple moving average is $275.28.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the firm posted $4.55 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts forecast that FedEx will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.13%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Activity at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last 90 days. 8.73% of the stock is owned by insiders.

Institutional Trading of FedEx

Institutional investors have recently made changes to their positions in the stock. Fortis Group Advisors LLC grew 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 purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of FedEx during the fourth quarter valued at approximately $25,000. Central Valley Advisors LLC bought a new position in shares of FedEx during the second quarter valued at approximately $39,000. Security National Bank bought a new stake in FedEx in the fourth quarter valued at $44,000. Finally, Abound Wealth Management raised its holdings in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other 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.