FedEx (NYSE:FDX) Shares Gap Down – Time to Sell?

FedEx Co. (NYSE:FDX)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $275.06, but opened at $265.00. FedEx shares last traded at $267.43, with a volume of 315,926 shares traded.

Analyst Ratings Changes

Several research firms have recently weighed in on FDX. JPMorgan Chase & Co. lifted their price objective on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. UBS Group lifted their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. BMO Capital Markets increased their price target on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Citigroup lifted their price objective on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $325.43.

FedEx Price Performance

The business’s fifty day moving average is $279.62 and its 200 day moving average is $282.44. The company has a market cap of $63.82 billion, a P/E ratio of 16.89, a PEG ratio of 1.14 and a beta of 1.20. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

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

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Transactions at FedEx

In other news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently made changes to their positions in the business. Fortitude Family Office LLC increased its holdings in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the period. Evermay Wealth Management LLC lifted its position in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Peoples Financial Services CORP. purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. bought a new position in shares of FedEx in the fourth quarter worth approximately $28,000. Finally, Kentucky Trust Co purchased a new position in shares of FedEx in the fourth quarter worth $28,000. 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.