FedEx (NYSE:FDX) Shares Down 5.1% - Here's What Happened

FedEx Co. (NYSE:FDX - Get Free Report)'s stock price dropped 5.1% during trading on Monday . The company traded as low as $246.72 and last traded at $251.41. Approximately 1,189,326 shares traded hands during trading, a decline of 24% from the average daily volume of 1,570,078 shares. The stock had previously closed at $264.87.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FDX shares. Bank of America raised their price target on FedEx from $325.00 to $348.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Raymond James lifted their target price on FedEx from $305.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, December 20th. UBS Group increased their price target on shares of FedEx from $311.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Sanford C. Bernstein cut shares of FedEx from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus reduced their target price on shares of FedEx from $368.00 to $364.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $321.87.

FedEx Trading Up 2.5 %

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's fifty day moving average price is $276.41 and its two-hundred day moving average price is $281.02. The firm has a market cap of $62.32 billion, a PE ratio of 16.49, a P/E/G ratio of 1.10 and a beta of 1.18.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to analysts' expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.99 EPS. As a group, sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, December 9th. FedEx's dividend payout ratio (DPR) is 35.18%.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the business's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard W. Smith sold 2,576 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company's stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

Institutional Trading of FedEx

Institutional investors and hedge funds have recently modified their holdings of the business. Fortitude Family Office LLC raised its position in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock valued at $26,000 after buying an additional 40 shares during the last quarter. Peoples Financial Services CORP. purchased a new position in FedEx during the fourth quarter worth $28,000. City Holding Co. acquired a new position in shares of FedEx in the fourth quarter worth $28,000. Finally, Kentucky Trust Co purchased a new stake in shares of FedEx in the fourth quarter valued at $28,000. Hedge funds and other 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.