FedEx (NYSE:FDX) Stock Price Down 0.7%

FedEx Co. (NYSE:FDX - Get Free Report)'s share price dropped 0.7% on Wednesday . The company traded as low as $263.16 and last traded at $264.94. Approximately 1,421,134 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 2,349,459 shares. The stock had previously closed at $266.74.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research reports. BMO Capital Markets raised their price target on shares of FedEx from $290.00 to $310.00 and gave the company a "market perform" rating in a research note on Friday, March 22nd. Robert W. Baird raised their price target on shares of FedEx from $315.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, March 22nd. TD Cowen raised their target price on shares of FedEx from $293.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, March 22nd. 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, UBS Group raised their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. One equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $301.33.

FedEx Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company's fifty day moving average is $258.30 and its two-hundred day moving average is $254.11. The stock has a market cap of $64.74 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 1.26 and a beta of 1.21.

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

FedEx Dividend Announcement

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 was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.92%. 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.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business's stock in a transaction 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business's stock in a transaction 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 6,145 shares of the business's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the transaction, the director now owns 7,865 shares of the company's stock, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock worth $37,758,773 over the last 90 days. Corporate insiders own 8.73% of the company's stock.

Hedge Funds Weigh In On FedEx

Institutional investors and hedge funds have recently modified their holdings of the company. Fortis Group Advisors LLC increased its holdings in FedEx by 100.0% in the fourth 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. Scarborough Advisors LLC purchased a new position in FedEx in the fourth quarter valued at $25,000. Financial Management Professionals Inc. increased its holdings in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider's stock valued at $27,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in FedEx in the fourth quarter valued at $28,000. Finally, Rakuten Securities Inc. purchased a new position in FedEx in the fourth quarter valued at $30,000. Institutional investors and hedge funds 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.