FedEx (NYSE:FDX) Trading Up 0.9%

FedEx Co. (NYSE:FDX - Get Free Report)'s stock price traded up 0.9% during trading on Monday . The stock traded as high as $271.61 and last traded at $270.11. 209,337 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 2,107,542 shares. The stock had previously closed at $267.80.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group upped their price target on shares of FedEx from $291.00 to $324.00 and gave the company a "buy" rating in a report on Friday, March 22nd. Bank of America lowered their price target on shares of FedEx from $346.00 to $340.00 and set a "buy" rating on the stock in a report on Tuesday, April 2nd. BNP Paribas reissued an "underperform" rating and set a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. Melius Research raised shares of FedEx from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a research note on Monday, January 8th. Finally, Stifel Nicolaus lowered their target price on shares of FedEx from $306.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and an average target price of $301.33.

FedEx Price Performance

The stock's 50 day simple moving average is $256.85 and its two-hundred day simple moving average is $254.04. The firm has a market capitalization of $65.64 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business's revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.41 EPS. On average, sell-side analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.89%. FedEx's dividend payout ratio (DPR) is presently 29.07%.

FedEx announced that its board has authorized a stock buyback plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Insider Activity at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the business's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares of the company's stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,668 shares of company stock worth $37,758,773. Insiders own 8.73% of the company's stock.

Institutional Investors Weigh In On FedEx

Several institutional investors have recently modified their holdings of the company. Matrix Asset Advisors Inc. NY lifted its position in shares of FedEx by 28.1% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 50,349 shares of the shipping service provider's stock worth $14,588,000 after purchasing an additional 11,046 shares during the last quarter. St. Johns Investment Management Company LLC lifted its position in FedEx by 2.0% in the first quarter. St. Johns Investment Management Company LLC now owns 3,487 shares of the shipping service provider's stock valued at $1,010,000 after acquiring an additional 69 shares during the last quarter. Future Financial Wealth Managment LLC lifted its position in FedEx by 23.4% in the first quarter. Future Financial Wealth Managment LLC now owns 1,790 shares of the shipping service provider's stock valued at $519,000 after acquiring an additional 340 shares during the last quarter. Benin Management CORP lifted its position in FedEx by 21.4% in the first quarter. Benin Management CORP now owns 16,293 shares of the shipping service provider's stock valued at $4,721,000 after acquiring an additional 2,868 shares during the last quarter. Finally, F&V Capital Management LLC lifted its position in FedEx by 4.8% in the first quarter. F&V Capital Management LLC now owns 61,572 shares of the shipping service provider's stock valued at $17,840,000 after acquiring an additional 2,825 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.