FedEx (NYSE:FDX) Shares Gap Down on Analyst Downgrade

FedEx Corporation (NYSE:FDX - Get Free Report)'s stock price gapped down before the market opened on Wednesday after Barclays lowered their price target on the stock from $330.00 to $320.00. The stock had previously closed at $229.51, but opened at $218.58. Barclays currently has an overweight rating on the stock. FedEx shares last traded at $221.03, with a volume of 2,155,378 shares trading hands.

A number of other equities research analysts have also recently issued reports on FDX. Wells Fargo & Company dropped their target price on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Sanford C. Bernstein lowered their price objective on FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research note on Friday, June 13th. Wall Street Zen lowered FedEx from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and reduced their price target for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Finally, Stifel Nicolaus decreased their price objective on shares of FedEx from $354.00 to $329.00 and set a "buy" rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $290.00.

Insiders Place Their Bets

In related news, COO John Alan Smith sold 6,155 shares of the company'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 sale, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.87% of the company's stock.

Hedge Funds Weigh In On FedEx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Transce3nd LLC bought a new position in shares of FedEx in the fourth quarter worth approximately $26,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of FedEx during the 4th quarter worth $28,000. Runnymede Capital Advisors Inc. bought a new stake in shares of FedEx during the 4th quarter worth $32,000. Accredited Wealth Management LLC purchased a new position in FedEx in the fourth quarter worth $35,000. Finally, Abound Financial LLC bought a new position in FedEx in the first quarter valued at $38,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

The company has a 50 day simple moving average of $219.11 and a 200-day simple moving average of $243.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. The stock has a market cap of $52.97 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. The business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.46% and a return on equity of 16.00%. During the same period in the prior year, the business posted $5.41 earnings per share. On average, equities analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a $1.45 dividend. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.62%. FedEx's payout ratio is presently 36.39%.

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.

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