FedEx (NYSE:FDX) Hits New 52-Week Low on Analyst Downgrade

FedEx Co. (NYSE:FDX)’s stock price reached a new 52-week low during mid-day trading on Wednesday after Citigroup lowered their price target on the stock from $305.00 to $267.00. Citigroup currently has a buy rating on the stock. FedEx traded as low as $194.34 and last traded at $195.76, with a volume of 65832 shares changing hands. The stock had previously closed at $198.07.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and lowered their price target for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Cfra Research raised FedEx to a “hold” rating in a report on Thursday, March 20th. Piper Sandler downgraded FedEx to a “neutral” rating in a research report on Monday, February 3rd. Stifel Nicolaus reduced their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.63.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Morse Asset Management Inc acquired a new position in shares of FedEx during the third quarter worth approximately $465,000. Coldstream Capital Management Inc. raised its position in FedEx by 11.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,935 shares of the shipping service provider’s stock worth $1,357,000 after purchasing an additional 514 shares during the last quarter. Toronto Dominion Bank lifted its holdings in FedEx by 1.7% during the 3rd quarter. Toronto Dominion Bank now owns 83,811 shares of the shipping service provider’s stock worth $22,937,000 after buying an additional 1,361 shares in the last quarter. Sunbelt Securities Inc. boosted its position in FedEx by 57.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,083 shares of the shipping service provider’s stock valued at $296,000 after buying an additional 397 shares during the last quarter. Finally, TCW Group Inc. increased its stake in shares of FedEx by 76.0% in the 3rd quarter. TCW Group Inc. now owns 32,310 shares of the shipping service provider’s stock valued at $8,843,000 after buying an additional 13,954 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 5.5 %

The business has a 50-day moving average price of $244.94 and a two-hundred day moving average price of $266.13. The company has a market cap of $49.37 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.11 and a beta of 1.24. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.68%. FedEx’s payout ratio is presently 34.63%.

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.