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

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

Analyst Upgrades and Downgrades

FDX has been the subject of a number of analyst reports. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price target for the company. UBS Group lifted their price target on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus dropped their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.04.

FedEx Price Performance

The firm’s 50-day moving average is $264.35 and its two-hundred day moving average is $275.13. The company has a market cap of $57.98 billion, a P/E ratio of 15.34, a PEG ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.99 earnings per share. Analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis 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%.

Insider Activity

In other FedEx news, Director Amy B. Lane acquired 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

Several hedge funds have recently modified their holdings of the company. Northstar Financial Companies Inc. purchased a new stake in shares of FedEx during the fourth quarter valued at about $393,000. Park Square Financial Group LLC acquired a new position in shares of FedEx during the fourth quarter valued at about $89,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of FedEx during the fourth quarter valued at about $42,588,000. Employees Retirement System of Texas increased its holdings in shares of FedEx by 13.6% during the fourth quarter. Employees Retirement System of Texas now owns 17,578 shares of the shipping service provider’s stock valued at $4,945,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its holdings in shares of FedEx by 34.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 1,107 shares of the shipping service provider’s stock valued at $311,000 after acquiring an additional 281 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other 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.