FedEx (NYSE:FDX) Trading Down 5.1% – Here’s Why

FedEx Co. (NYSE:FDX) fell 5.1% during trading on Monday . The stock traded as low as $246.72 and last traded at $251.41. 1,189,326 shares traded hands during trading, a decline of 24% from the average session volume of 1,570,078 shares. The stock had previously closed at $264.87.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FDX. JPMorgan Chase & Co. boosted their price target on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Citigroup upped their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and decreased their price objective for the company from $365.00 to $283.00 in a research report on Monday. Barclays upped their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Price Performance

The company has a fifty day simple moving average of $277.43 and a two-hundred day simple moving average of $281.22. The stock has a market capitalization of $60.84 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.10 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The business 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%. FedEx’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.99 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

Several institutional investors have recently modified their holdings of FDX. Fortitude Family Office LLC lifted its holdings in FedEx by 144.4% during the 4th 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 stake in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Peoples Financial Services CORP. bought a new stake in FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. acquired a new stake in FedEx during the 4th quarter valued at approximately $28,000. Finally, Kentucky Trust Co bought a new position in FedEx during the 4th quarter worth approximately $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.