FedEx (NYSE:FDX) Downgraded by StockNews.com

StockNews.com lowered shares of FedEx (NYSE:FDX - Free Report) from a buy rating to a hold rating in a research report released on Sunday morning.

FDX has been the topic of a number of other research reports. Evercore ISI lowered their target price on FedEx from $335.00 to $318.00 and set an outperform rating on the stock in a research note on Friday, September 20th. Stephens restated an overweight rating and issued a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Argus lifted their target price on shares of FedEx from $325.00 to $335.00 and gave the company a buy rating in a research note on Thursday, June 27th. Oppenheimer restated a market perform rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of FedEx from $359.00 to $350.00 and set an overweight rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $314.74.

FedEx Trading Down 0.5 %

Shares of FDX traded down $1.24 during midday trading on Friday, hitting $260.84. The stock had a trading volume of 1,638,679 shares, compared to its average volume of 1,881,833. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The business has a 50-day simple moving average of $284.62 and a two-hundred day simple moving average of $276.05. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a market cap of $64.19 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $4.55 earnings per share. As a group, equities analysts forecast that FedEx will post 19.66 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Monday, September 9th. FedEx's dividend payout ratio is presently 32.04%.

Insider Activity at FedEx

In other news, Director Marvin R. Ellison sold 2,535 shares of FedEx stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $299.34, for a total transaction of $758,826.90. Following the sale, the director now directly owns 6,955 shares in the company, valued at approximately $2,081,909.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares of the company's stock, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marvin R. Ellison sold 2,535 shares of the company's stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $299.34, for a total transaction of $758,826.90. Following the completion of the sale, the director now directly owns 6,955 shares in the company, valued at approximately $2,081,909.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,914 shares of company stock worth $3,978,338. 8.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortis Group Advisors LLC grew its holdings in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider's stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx in the 4th quarter valued at about $25,000. Central Valley Advisors LLC acquired a new stake in FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management lifted its position in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC grew its stake in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.