FedEx (NYSE:FDX) Cut to Hold at Hsbc Global Res

Hsbc Global Res cut shares of FedEx (NYSE:FDX) from a strong-buy rating to a hold rating in a research report report published on Friday morning, Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. UBS Group decreased their price target on shares of FedEx from $333.00 to $311.00 and set a buy rating for the company in a research note on Friday. Argus lifted their price target on shares of FedEx from $325.00 to $335.00 and gave the company a buy rating in a research note on Thursday, June 27th. Oppenheimer restated a market perform rating on shares of FedEx in a research note on Wednesday, June 26th. The Goldman Sachs Group lowered their target price on FedEx from $333.00 to $332.00 in a research report on Friday. Finally, Evercore ISI reduced their price target on FedEx from $335.00 to $318.00 and set an outperform rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of Moderate Buy and an average target price of $314.74.

FedEx Trading Up 1.6 %

NYSE:FDX opened at $258.82 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx has a 1-year low of $224.69 and a 1-year high of $313.84. The firm has a market capitalization of $63.69 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.03 and a beta of 1.17. The business’s 50-day moving average price is $291.50 and its two-hundred day moving average price is $275.28.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $4.55 EPS. On average, equities analysts expect that FedEx will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.13%. FedEx’s payout ratio is presently 32.04%.

Insider Transactions at FedEx

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. Insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors increased its position in shares of FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Sentry LLC bought a new stake in FedEx during the 4th quarter worth approximately $307,007,000. Vanguard Group Inc. raised its stake in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Putnam Investments LLC lifted its holdings in shares of FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares in the last quarter. Finally, Mawer Investment Management Ltd. boosted its position in shares of FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

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.