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

FedEx Co. (NYSE:FDX) shares shot up 0.4% on Thursday . The company traded as high as $273.97 and last traded at $272.77. 246,034 shares changed hands during trading, a decline of 87% from the average session volume of 1,846,106 shares. The stock had previously closed at $271.80.

Analyst Ratings Changes

Several research firms have recently issued reports on FDX. Wells Fargo & Company raised their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Stephens reaffirmed an “overweight” rating and set a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Citigroup began coverage on FedEx in a research report on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Finally, TD Cowen reduced their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a 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 given a buy rating to the company. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Trading Up 0.1 %

The company has a market capitalization of $67.54 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.06 and a beta of 1.17. 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 firm’s 50-day moving average price is $280.10 and its 200 day moving average price is $275.00.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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 company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $4.55 earnings per share. As a group, equities research analysts predict that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of FedEx in the 1st quarter worth about $1,667,000. Allegheny Financial Group LTD purchased a new position in FedEx in the first quarter valued at about $203,000. Hilltop National Bank bought a new position in shares of FedEx during the 1st quarter valued at approximately $476,000. Csenge Advisory Group grew its position in shares of FedEx by 14.9% during the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after acquiring an additional 298 shares during the period. Finally, Czech National Bank increased its stake in shares of FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after purchasing an additional 2,767 shares during 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.