FedEx (NYSE:FDX) Cut to Sell at Loop Capital

Loop Capital cut shares of FedEx (NYSE:FDX) from a hold rating to a sell rating in a report published on Friday, MarketBeat Ratings reports. Loop Capital currently has $221.00 target price on the shipping service provider’s stock, down from their prior target price of $283.00.

A number of other analysts have also issued reports on FDX. Wells Fargo & Company decreased their price target on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Stifel Nicolaus cut their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday. Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Finally, UBS Group raised their price objective on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $301.67.

FedEx Stock Down 6.5 %

Shares of NYSE:FDX opened at $230.25 on Friday. The stock’s 50-day moving average price is $259.95 and its two-hundred day moving average price is $272.35. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx has a 12-month low of $217.22 and a 12-month high of $313.84. The firm has a market cap of $55.46 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the business posted $3.86 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts forecast that FedEx will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.40%. FedEx’s dividend payout ratio is presently 35.18%.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 3,980 shares of FedEx 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 completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FDX. Norges Bank acquired a new position in shares of FedEx in the 4th quarter worth approximately $807,352,000. Raymond James Financial Inc. acquired a new position in FedEx during the 4th quarter valued at approximately $234,028,000. Dodge & Cox boosted its position in FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the period. Capital Research Global Investors acquired a new position in FedEx during the 4th quarter valued at approximately $145,733,000. Finally, ACR Alpine Capital Research LLC boosted its position in FedEx by 62.9% during the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after purchasing an additional 329,170 shares during the period. 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.