FedEx (NYSE:FDX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a research note released on Friday morning.

Several other research firms have also recently weighed in on FDX. The Goldman Sachs Group lowered their price target on shares of FedEx from $333.00 to $332.00 in a report on Friday. Wells Fargo & Company raised their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an equal weight rating in a report on Wednesday, June 26th. UBS Group lowered their target price on shares of FedEx from $333.00 to $311.00 and set a buy rating on the stock in a report on Friday. Bank of America lowered their target price on shares of FedEx from $347.00 to $345.00 and set a buy rating on the stock in a report on Wednesday, September 18th. Finally, Stifel Nicolaus lowered their target price on shares of FedEx from $327.00 to $321.00 and set a buy rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $315.95.

FedEx Stock Down 15.2 %

FedEx stock opened at $254.64 on Friday. The stock has a market cap of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84. The company’s 50-day moving average price is $292.43 and its two-hundred day moving average price is $275.22.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.55 earnings per share. As a group, analysts expect that FedEx will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. FedEx’s dividend payout ratio is currently 32.04%.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction 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 transaction, the director now owns 14,745 shares in the company, valued at $4,345,646.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the transaction, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently modified their holdings of the business. SeaCrest Wealth Management LLC lifted its holdings in FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after buying an additional 34 shares during the period. LRI Investments LLC lifted its holdings in FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC lifted its holdings in FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after buying an additional 36 shares during the period. Detalus Advisors LLC lifted its holdings in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares during the period. Finally, Sachetta LLC lifted its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

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.