FedEx (NYSE:FDX) Stock Price Up 1.1%

FedEx Co. (NYSE:FDX)’s stock price shot up 1.1% during trading on Tuesday . The stock traded as high as $273.65 and last traded at $273.18. 231,983 shares were traded during trading, a decline of 89% from the average session volume of 2,048,159 shares. The stock had previously closed at $270.15.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FDX shares. TD Cowen increased their price target on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Robert W. Baird upped their price target on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Morgan Stanley raised their price objective on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. UBS Group boosted their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Trading Up 0.5 %

The business’s 50-day simple moving average is $259.74 and its 200-day simple moving average is $254.18. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company has a market cap of $66.84 billion, a PE ratio of 15.75, a P/E/G ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period last year, the company earned $3.41 earnings per share. FedEx’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, analysts expect that FedEx Co. will post 17.67 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is presently 29.07%.

FedEx announced that its board has approved a stock buyback program on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark R. Allen sold 10,145 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $287.28, for a total value of $2,914,455.60. Following the completion of the sale, the executive vice president now owns 36,853 shares of the company’s stock, valued at $10,587,129.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in FedEx in the 4th quarter worth approximately $25,000. Fortis Group Advisors LLC grew its stake in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Financial Management Professionals Inc. raised its stake in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in FedEx during the 4th quarter valued at $28,000. Finally, Rakuten Securities Inc. bought a new stake in FedEx in the 4th quarter valued at $30,000. 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.