FedEx (NYSE:FDX) Rating Lowered to Hold at HSBC

HSBC cut shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a report issued on Friday morning, MarketBeat reports. They currently have $300.00 price objective on the shipping service provider’s stock.

Several other equities analysts have also recently commented on the stock. Stifel Nicolaus reissued a buy rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Raymond James cut their price target on FedEx from $325.00 to $300.00 and set an outperform rating on the stock in a report on Monday, June 24th. Oppenheimer reiterated a market perform rating on shares of FedEx in a research note on Wednesday, June 26th. The Goldman Sachs Group raised their price target on FedEx from $316.00 to $333.00 and gave the company a buy rating in a research note on Wednesday, June 26th. Finally, TD Cowen lowered their price objective on FedEx from $334.00 to $328.00 and set a buy rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $314.74.

FedEx Trading Up 1.6 %

FDX opened at $258.82 on Friday. FedEx has a one year low of $224.69 and a one year high of $313.84. 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 stock has a market capitalization of $63.69 billion, a PE ratio of 15.02, a P/E/G ratio of 1.03 and a beta of 1.17. The business’s 50 day moving average price is $291.50 and its 200 day moving average price is $275.28.

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

FedEx Announces Dividend

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

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the sale, the director now owns 14,745 shares in the company, valued at $4,345,646.40. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last quarter. 8.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Several large investors have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC raised its stake in FedEx by 100.0% during 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 period. Scarborough Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter worth $25,000. Central Valley Advisors LLC purchased a new position in shares of FedEx in the 2nd quarter worth $39,000. Security National Bank acquired a new position in FedEx in the fourth quarter valued at $44,000. Finally, Abound Wealth Management raised its holdings in shares of 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 during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

About FedEx

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.