FedEx (NYSE:FDX) Receives Underperform Rating from BNP Paribas

BNP Paribas restated their underperform rating on shares of FedEx (NYSE:FDX) in a research note released on Wednesday morning, MarketBeat reports. BNP Paribas currently has a $250.00 price target on the shipping service provider’s stock.

FDX has been the topic of a number of other reports. Bank of America raised their price objective on FedEx from $313.00 to $346.00 and gave the company a buy rating in a research note on Friday, March 22nd. Morgan Stanley lifted their price target on FedEx from $195.00 to $210.00 and gave the stock an equal weight rating in a research report on Friday, March 22nd. UBS Group lifted their price objective on FedEx from $323.00 to $340.00 and gave the stock a buy rating in a report on Friday, March 22nd. Stifel Nicolaus decreased their price objective on FedEx from $305.00 to $290.00 and set a buy rating on the stock in a report on Thursday, March 21st. Finally, Melius raised FedEx from a hold rating to a buy rating in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $301.07.

FedEx Stock Down 0.4 %

FDX opened at $287.88 on Wednesday. FedEx has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The business has a 50-day moving average of $248.74 and a 200-day moving average of $252.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The company has a market capitalization of $70.84 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.20.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the business earned $3.41 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis. Equities research analysts forecast that FedEx will post 17.61 EPS for the current fiscal year.

FedEx declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be issued a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

Insider Activity

In other news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. 8.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Camarda Financial Advisors LLC lifted its position in FedEx by 0.6% during the 2nd quarter. Camarda Financial Advisors LLC now owns 6,419 shares of the shipping service provider’s stock worth $1,591,000 after buying an additional 40 shares in the last quarter. M&R Capital Management Inc. lifted its position in FedEx by 0.3% during the 3rd quarter. M&R Capital Management Inc. now owns 16,192 shares of the shipping service provider’s stock worth $4,289,000 after buying an additional 41 shares in the last quarter. KRS Capital Management LLC lifted its position in FedEx by 4.1% during the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after buying an additional 41 shares in the last quarter. Zullo Investment Group Inc. lifted its position in FedEx by 0.7% during the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after buying an additional 42 shares in the last quarter. Finally, Toth Financial Advisory Corp lifted its position in FedEx by 18.0% during the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after buying an additional 44 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

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.