FedEx Co. (NYSE:FDX – Get Rating) shares hit a new 52-week low during trading on Friday after Bank Of America (Bofa) downgraded the stock from a buy rating to a neutral rating. Bank Of America (Bofa) now has a $186.00 price target on the stock, down from their previous price target of $275.00. FedEx traded as low as $155.00 and last traded at $159.67, with a volume of 326927 shares trading hands. The stock had previously closed at $204.87.
FDX has been the topic of several other reports. UBS Group cut their target price on FedEx from $308.00 to $232.00 and set a “buy” rating on the stock in a research note on Friday. Stephens increased their price target on FedEx from $285.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, June 24th. Morgan Stanley lowered their price target on FedEx from $255.00 to $250.00 in a report on Wednesday, September 7th. Credit Suisse Group lowered their price target on FedEx from $314.00 to $246.00 and set an “outperform” rating on the stock in a report on Friday. Finally, StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 21st. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $245.04.
Insider Buying and Selling
In other news, EVP Brie Carere sold 11,235 shares of FedEx stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $228.85, for a total transaction of $2,571,129.75. Following the completion of the sale, the executive vice president now owns 16,366 shares of the company’s stock, valued at $3,745,359.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Brie Carere sold 11,235 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $228.85, for a total value of $2,571,129.75. Following the completion of the transaction, the executive vice president now owns 16,366 shares of the company’s stock, valued at $3,745,359.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Carter sold 12,310 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $224.67, for a total value of $2,765,687.70. Following the transaction, the executive vice president now directly owns 54,916 shares in the company, valued at $12,337,977.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,810 shares of company stock worth $11,199,898. Corporate insiders own 8.62% of the company’s stock.
Institutional Investors Weigh In On FedEx
FedEx Stock Performance
The business’s 50-day simple moving average is $222.53 and its two-hundred day simple moving average is $218.40. The firm has a market cap of $41.85 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 0.74 and a beta of 1.21. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81.
FedEx (NYSE:FDX – Get Rating) last issued its quarterly earnings data on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share for the quarter, missing analysts’ consensus estimates of $6.91 by ($0.04). FedEx had a return on equity of 22.29% and a net margin of 4.09%. The firm had revenue of $24.39 billion during the quarter, compared to analyst estimates of $24.28 billion. During the same quarter last year, the company posted $5.01 EPS. As a group, sell-side analysts expect that FedEx Co. will post 23.01 earnings per share for the current fiscal year.
FedEx Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be issued a $1.15 dividend. The ex-dividend date is Thursday, September 1st. This represents a $4.60 dividend on an annualized basis and a yield of 2.86%. FedEx’s payout ratio is 32.17%.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.
- Get a free copy of the StockNews.com research report on FedEx (FDX)
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