FedEx (NYSE:FDX) Downgraded to Hold at HSBC

HSBC cut shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a report issued on Friday morning, MarketBeat reports. HSBC currently has $300.00 price objective on the shipping service provider’s stock.

Several other analysts also recently weighed in on the company. Bank of America cut their target price on FedEx from $347.00 to $345.00 and set a buy rating on the stock in a research note on Wednesday, September 18th. Argus increased their target price on shares of FedEx from $325.00 to $335.00 and gave the company a buy rating in a research report on Thursday, June 27th. Wells Fargo & Company boosted their price target on shares of FedEx from $275.00 to $300.00 and gave the stock an equal weight rating in a research report on Wednesday, June 26th. Evercore ISI decreased their price objective on shares of FedEx from $339.00 to $335.00 and set an outperform rating for the company in a report on Thursday, September 12th. Finally, TD Cowen lowered their target price on FedEx from $334.00 to $328.00 and set a buy rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $314.74.

FedEx Stock Up 1.6 %

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

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company 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%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.55 earnings per share. Research analysts predict that FedEx will post 20.82 EPS for the current year.

FedEx Dividend Announcement

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

Insider Activity at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred 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 owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated 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 transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

A number of large investors have recently bought and sold shares of the business. Scarborough Advisors LLC acquired a new position in shares of FedEx in the fourth quarter valued at approximately $25,000. Fortis Group Advisors LLC increased its stake in FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Central Valley Advisors LLC acquired a new position in FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management increased its position in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Finally, Sachetta LLC raised its position in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. 84.47% of the stock is owned by institutional investors.

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.