FedEx (NYSE:FDX) Lowered to “Sell” at ValuEngine

ValuEngine lowered shares of FedEx (NYSE:FDX) from a hold rating to a sell rating in a report published on Thursday morning, ValuEngine reports.

A number of other equities research analysts also recently commented on FDX. Morgan Stanley set a $143.00 price objective on FedEx and gave the company a hold rating in a research report on Monday, June 10th. Sanford C. Bernstein set a $205.00 price objective on FedEx and gave the company a buy rating in a research report on Thursday, June 20th. Barclays reaffirmed a buy rating and issued a $185.00 price objective on shares of FedEx in a research report on Thursday, June 13th. Stephens set a $210.00 price objective on FedEx and gave the company a buy rating in a research report on Wednesday, June 26th. Finally, Citigroup lowered their price objective on FedEx from $192.00 to $180.00 and set a buy rating for the company in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. FedEx has an average rating of Buy and a consensus target price of $191.63.

Shares of NYSE FDX traded up $0.42 during trading on Thursday, reaching $163.73. The company had a trading volume of 1,959,080 shares, compared to its average volume of 1,958,649. FedEx has a twelve month low of $150.68 and a twelve month high of $259.25. The stock has a market capitalization of $42.70 billion, a PE ratio of 10.55, a PEG ratio of 0.92 and a beta of 1.65. The business’s 50-day simple moving average is $166.02. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.93 by $0.08. The company had revenue of $17.81 billion during the quarter, compared to analysts’ expectations of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.91 earnings per share. Equities research analysts expect that FedEx will post 14.61 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Monday, June 24th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Friday, June 21st. FedEx’s dividend payout ratio (DPR) is 16.75%.

In related news, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the transaction, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the completion of the transaction, the executive vice president now directly owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Oakworth Capital Inc. boosted its stake in FedEx by 30.1% during the 2nd quarter. Oakworth Capital Inc. now owns 1,462 shares of the shipping service provider’s stock valued at $240,000 after purchasing an additional 338 shares in the last quarter. Usca Ria LLC bought a new position in FedEx during the 2nd quarter valued at $2,401,000. McKinley Carter Wealth Services Inc. boosted its stake in FedEx by 5.6% during the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 10,277 shares of the shipping service provider’s stock valued at $1,687,000 after purchasing an additional 545 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in FedEx during the 2nd quarter valued at $1,439,000. Finally, Jones Financial Companies Lllp boosted its stake in FedEx by 0.7% during the 2nd quarter. Jones Financial Companies Lllp now owns 26,499 shares of the shipping service provider’s stock valued at $4,351,000 after purchasing an additional 175 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Analyst Recommendations for FedEx (NYSE:FDX)

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