FedEx (NYSE:FDX) Cut to Sell at Loop Capital

Loop Capital cut shares of FedEx (NYSE:FDX) from a hold rating to a sell rating in a research note released on Friday, Marketbeat Ratings reports. The brokerage currently has $221.00 target price on the shipping service provider’s stock, down from their prior target price of $283.00.

Other equities analysts also recently issued reports about the company. Truist Financial assumed coverage on FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus decreased their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $301.67.

FedEx Stock Performance

Shares of FDX opened at $230.25 on Friday. The stock has a 50 day moving average price of $259.95 and a 200 day moving average price of $272.35. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $55.46 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx has a 52-week low of $217.22 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $3.86 earnings per share. Research analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insiders Place Their Bets

In other news, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by company insiders.

Institutional Trading of FedEx

Several large investors have recently bought and sold shares of FDX. United Bank acquired a new stake in FedEx in the third quarter valued at $615,000. Quest Partners LLC acquired a new stake in shares of FedEx during the third quarter valued at $123,000. Pathstone Holdings LLC boosted its stake in shares of FedEx by 2.1% during the third quarter. Pathstone Holdings LLC now owns 28,592 shares of the shipping service provider’s stock valued at $7,827,000 after acquiring an additional 586 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of FedEx during the third quarter valued at $2,611,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of FedEx by 0.3% during the third quarter. PNC Financial Services Group Inc. now owns 76,897 shares of the shipping service provider’s stock valued at $21,045,000 after acquiring an additional 259 shares during the last quarter. 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.