StockNews.com Downgrades FedEx (NYSE:FDX) to Hold

FedEx (NYSE:FDX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

FDX has been the topic of a number of other reports. Robert W. Baird reduced their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday. Stifel Nicolaus reduced their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday. Susquehanna reduced their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday. Finally, Stephens reissued an “overweight” rating and set a $350.00 price objective on shares of FedEx 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 seventeen have assigned a buy rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $313.38.

FedEx Trading Down 15.2 %

Shares of NYSE FDX opened at $254.64 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $62.66 billion, a PE ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84. The stock has a fifty day simple moving average of $292.43 and a 200-day simple moving average of $275.04.

FedEx (NYSE:FDX) last released its 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 firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 earnings per share. On average, equities analysts forecast that FedEx will post 20.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Brie Carere sold 1,958 shares of the 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 directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. 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 quarter. Company insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FDX. Capital International Investors boosted its holdings in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Sentry LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $307,007,000. Vanguard Group Inc. boosted its stake in shares of FedEx by 5.6% in the first 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. Putnam Investments LLC grew its holdings in FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after acquiring an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. raised its position 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 acquiring an additional 684,679 shares in the last quarter. 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.