FedEx (NYSE:FDX) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of FedEx (NYSE:FDX) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

Several other equities research analysts have also commented on the company. Argus upped their price objective on FedEx from $325.00 to $335.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Wells Fargo & Company raised their price target on shares of FedEx from $275.00 to $300.00 and gave the company an equal weight rating in a research report on Wednesday, June 26th. TD Cowen lifted their price objective on shares of FedEx from $320.00 to $335.00 and gave the company a buy rating in a report on Wednesday, June 26th. 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 note on Wednesday, June 26th. Finally, Stifel Nicolaus restated a buy rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $314.00.

FedEx Stock Performance

FDX opened at $277.41 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The firm has a 50 day moving average of $280.96 and a two-hundred day moving average of $265.35. The firm has a market capitalization of $68.27 billion, a PE ratio of 16.10, a P/E/G ratio of 1.08 and a beta of 1.18.

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

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were issued a $1.38 dividend. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 1.99%. The ex-dividend date was Monday, June 24th. FedEx’s payout ratio is 32.04%.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the sale, the director now directly owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the sale, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last quarter. 8.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fortis Group Advisors LLC grew its stake in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in shares of FedEx in the fourth quarter valued at about $25,000. Private Wealth Management Group LLC acquired a new stake in shares of FedEx during the fourth quarter worth about $28,000. Rakuten Securities Inc. purchased a new position in shares of FedEx during the fourth quarter worth about $30,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in FedEx in the 4th quarter valued at about $31,000. 84.47% of the stock is 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.