FedEx (NYSE:FDX) Reaches New 1-Year Low – Here’s What Happened

Shares of FedEx Co. (NYSE:FDX) hit a new 52-week low during trading on Tuesday . The company traded as low as $241.78 and last traded at $243.74, with a volume of 346104 shares traded. The stock had previously closed at $246.51.

Analyst Ratings Changes

Several brokerages recently issued reports on FDX. JPMorgan Chase & Co. dropped their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. BMO Capital Markets increased their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, Barclays boosted their price target on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, eleven have given 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, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $318.58.

FedEx Price Performance

The firm has a 50-day simple moving average of $265.87 and a two-hundred day simple moving average of $275.74. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $58.51 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.11 and a beta of 1.23.

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

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Activity

In other news, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Fortitude Family Office LLC boosted its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares during the last quarter. Transce3nd LLC purchased a new position in FedEx in the 4th quarter worth approximately $26,000. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the 4th quarter worth approximately $28,000. City Holding Co. purchased a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

About FedEx

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.