FedEx (NYSE:FDX) Hits New 52-Week Low - Time to Sell?

FedEx Co. (NYSE:FDX - Get Free Report)'s stock price hit a new 52-week low on Thursday . The company traded as low as $215.58 and last traded at $216.52, with a volume of 3215205 shares. The stock had previously closed at $245.17.

Analyst Ratings Changes

A number of research firms recently issued reports on FDX. Wells Fargo & Company decreased their price objective on shares of FedEx from $275.00 to $260.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. TD Cowen decreased their price target on shares of FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Citigroup dropped their price objective on FedEx from $347.00 to $317.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. BMO Capital Markets decreased their target price on FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research report on Friday, March 21st. Finally, Truist Financial started coverage on FedEx in a research report on Thursday, March 13th. They set a "buy" rating and a $305.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and an average price target of $302.71.

FedEx Trading Down 2.8 %

The stock has a market cap of $50.29 billion, a PE ratio of 13.38, a PEG ratio of 1.11 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $252.45 and a two-hundred day simple moving average of $268.95.

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FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.86 EPS. As a group, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.63%. FedEx's payout ratio is 34.63%.

Insider Transactions at FedEx

In other news, EVP John W. Dietrich bought 1,000 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the transaction, the executive vice president now directly owns 9,067 shares of the company's stock, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. United Bank bought a new stake in shares of FedEx in the 3rd quarter worth approximately $615,000. Janus Henderson Group PLC increased its position in shares of FedEx by 1.9% during the third quarter. Janus Henderson Group PLC now owns 26,612 shares of the shipping service provider's stock valued at $7,280,000 after buying an additional 500 shares during the period. IHT Wealth Management LLC grew its holdings in shares of FedEx by 15.3% during the 3rd quarter. IHT Wealth Management LLC now owns 4,072 shares of the shipping service provider's stock worth $1,114,000 after acquiring an additional 539 shares during the period. Morse Asset Management Inc bought a new position in FedEx in the third quarter worth $465,000. Finally, Redwood Investment Management LLC increased its stake in shares of FedEx by 4.0% in the 3rd quarter. Redwood Investment Management LLC now owns 4,903 shares of the shipping service provider's stock worth $1,312,000 after acquiring an additional 190 shares in the last quarter. 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.