FedEx (NYSE:FDX) Hits New 52-Week Low After Analyst Downgrade

Shares of FedEx Co. (NYSE:FDX - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday after Citigroup lowered their price target on the stock from $305.00 to $267.00. Citigroup currently has a buy rating on the stock. FedEx traded as low as $194.34 and last traded at $195.76, with a volume of 65832 shares. The stock had previously closed at $198.07.

Several other research analysts also recently commented on FDX. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research note on Friday, March 7th. They issued a "buy" rating and a $337.00 price objective for the company. Piper Sandler downgraded shares of FedEx to a "neutral" rating in a research note on Monday, February 3rd. Bank of America dropped their price objective on shares of FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Stifel Nicolaus decreased their target price on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Finally, StockNews.com upgraded FedEx from a "hold" rating to a "buy" rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and an average target price of $300.63.

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Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business's stock in a transaction on Tuesday, January 14th. The stock was 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 of the company's stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Fortitude Family Office LLC boosted its holdings in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after purchasing an additional 52 shares in the last quarter. Transce3nd LLC acquired a new position in shares of FedEx in the 4th quarter valued at $26,000. Peoples Financial Services CORP. purchased a new position in shares of FedEx in the 4th quarter valued at $28,000. City Holding Co. acquired a new stake in FedEx during the 4th quarter worth $28,000. Finally, Kentucky Trust Co purchased a new stake in FedEx in the fourth quarter valued at $28,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

The firm has a fifty day simple moving average of $244.07 and a 200-day simple moving average of $265.74. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market cap of $50.48 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for 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%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.86 EPS. On average, research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.62%. FedEx's dividend payout ratio (DPR) is 34.63%.

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.