FedEx (NYSE:FDX) Reaches New 52-Week High at $305.39

FedEx Co. (NYSE:FDX)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $305.39 and last traded at $304.33, with a volume of 548968 shares traded. The stock had previously closed at $299.02.

Wall Street Analyst Weigh In

FDX has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Argus raised their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Robert W. Baird raised their price target on FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 price target (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Stock Up 1.8 %

The business’s 50 day moving average price is $264.27 and its 200-day moving average price is $258.66. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The company has a market cap of $74.90 billion, a P/E ratio of 17.35, a PEG ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the previous year, the company posted $4.94 earnings per share. FedEx’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

FedEx announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at FedEx

In related news, Director David P. Steiner sold 1,369 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the completion of the sale, the director now owns 35,183 shares of the company’s stock, valued at $10,474,330.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Steiner sold 1,369 shares of FedEx stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total transaction of $407,564.99. Following the sale, the director now directly owns 35,183 shares of the company’s stock, valued at approximately $10,474,330.93. The disclosure for this sale can be found here. Insiders sold a total of 22,565 shares of company stock valued at $6,662,844 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Institutional investors have recently bought and sold shares of the business. Fortis Group Advisors LLC grew its holdings in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC acquired a new position in shares of FedEx in the 4th quarter valued at $25,000. Financial Management Professionals Inc. grew its holdings in shares of FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC acquired a new position in shares of FedEx in the 4th quarter valued at $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of FedEx in the 4th quarter valued at $30,000. 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.