FedEx (NYSE:FDX) Reaches New 52-Week Low - Here's What Happened

FedEx Co. (NYSE:FDX - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $241.78 and last traded at $243.74, with a volume of 346104 shares changing hands. The stock had previously closed at $246.51.

Analysts Set New Price Targets

FDX has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Sanford C. Bernstein cut shares of FedEx from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Piper Sandler downgraded shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. Raymond James cut FedEx from an "outperform" rating to a "market perform" rating in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on FedEx in a report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $318.04.

FedEx Price Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business's 50-day moving average price is $263.68 and its two-hundred day moving average price is $274.89. The firm has a market cap of $57.98 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 1.11 and a beta of 1.23.

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FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.99 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, March 10th. FedEx's dividend payout ratio is currently 35.18%.

Insiders Place Their Bets

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John W. Dietrich purchased 1,000 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC boosted its holdings in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after acquiring an additional 52 shares during the period. Transce3nd LLC bought a new stake in FedEx in the 4th quarter valued at about $26,000. Peoples Financial Services CORP. acquired a new position in FedEx during the 4th quarter valued at about $28,000. City Holding Co. bought a new position in FedEx in the 4th quarter worth about $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. 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.