FedEx (NYSE:FDX) Trading 2.3% Higher – Here’s Why

Shares of FedEx Co. (NYSE:FDX) rose 2.3% during mid-day trading on Wednesday . The company traded as high as $272.90 and last traded at $271.98. Approximately 396,567 shares were traded during trading, a decline of 79% from the average daily volume of 1,847,788 shares. The stock had previously closed at $265.92.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FDX. TD Cowen dropped their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Wells Fargo & Company raised their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group dropped their price target on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Stifel Nicolaus dropped their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

The firm has a market capitalization of $66.85 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The business’s 50 day moving average is $280.37 and its two-hundred day moving average is $275.07.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $4.55 earnings per share. Equities research analysts anticipate that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.03%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Transactions at FedEx

In other news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.73% of the stock is currently owned by insiders.

Institutional Trading of FedEx

Several hedge funds have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC lifted its stake 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 worth $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC lifted its stake in FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC lifted its stake 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 worth $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC lifted its stake in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC increased its position in shares of 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 acquiring an additional 37 shares during the period. 84.47% of the stock is owned by institutional investors.

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.