FedEx (NYSE:FDX) Reaches New 1-Year Low – What’s Next?

FedEx Co. (NYSE:FDX) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $241.78 and last traded at $243.74, with a volume of 346104 shares changing hands. The stock had previously closed at $246.51.

Wall Street Analyst Weigh In

A number of research analysts have commented on FDX shares. Loop Capital cut FedEx from a “buy” rating to a “hold” rating and decreased their price target for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Bank of America raised their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. TD Cowen boosted their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Stephens cut their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.58.

FedEx Stock Performance

The stock’s 50 day moving average price is $265.87 and its two-hundred day moving average price is $275.74. 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 capitalization of $58.51 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.11 and a beta of 1.23.

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

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The stock was bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

Several institutional investors have recently added to or reduced their stakes in FDX. bLong Financial LLC acquired a new stake in shares of FedEx during the 4th quarter worth $391,000. Virtu Financial LLC purchased a new stake in shares of FedEx in the third quarter worth about $3,405,000. Lodestone Wealth Management LLC purchased a new stake in shares of FedEx during the 4th quarter valued at about $461,000. Wedmont Private Capital lifted its position in FedEx by 4.1% during the 4th 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 in the last quarter. Finally, GFS Advisors LLC acquired a new stake in FedEx in the fourth quarter valued at approximately $26,855,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.