FedEx (NYSE:FDX) Shares Up 1.1%

FedEx Co. (NYSE:FDX)’s share price traded up 1.1% during trading on Tuesday . The company traded as high as $273.65 and last traded at $273.18. 231,983 shares were traded during trading, a decline of 89% from the average session volume of 2,048,159 shares. The stock had previously closed at $270.15.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FDX. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Evercore ISI increased their target price on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Stifel Nicolaus dropped their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Bank of America cut their price objective on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, TD Cowen lifted their target price on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm’s 50 day moving average price is $259.74 and its two-hundred day moving average price is $254.18. The firm has a market cap of $66.84 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the firm earned $3.41 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

FedEx declared that its board has authorized a share buyback program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at $140,507.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock worth $37,758,773 in the last 90 days. 8.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nations Financial Group Inc. IA ADV increased its stake in shares of FedEx by 5.8% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 2,266 shares of the shipping service provider’s stock worth $657,000 after purchasing an additional 125 shares in the last quarter. Tyche Wealth Partners LLC grew its holdings in FedEx by 2.5% during the 1st quarter. Tyche Wealth Partners LLC now owns 2,346 shares of the shipping service provider’s stock valued at $680,000 after buying an additional 57 shares during the last quarter. McAdam LLC purchased a new position in FedEx during the first quarter worth $239,000. Wesbanco Bank Inc. raised its holdings in shares of FedEx by 9.3% in the first quarter. Wesbanco Bank Inc. now owns 19,635 shares of the shipping service provider’s stock worth $5,689,000 after acquiring an additional 1,667 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its position in shares of FedEx by 13.3% in the first quarter. Summit Trail Advisors LLC now owns 2,302 shares of the shipping service provider’s stock valued at $670,000 after acquiring an additional 271 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.