FedEx (NYSE:FDX) Hits New 12-Month Low – Here’s Why

FedEx Co. (NYSE:FDX) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $215.58 and last traded at $216.52, with a volume of 3215205 shares traded. The stock had previously closed at $245.17.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FDX shares. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Raymond James cut their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and decreased their price target for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $302.71.

FedEx Stock Performance

The company has a fifty day moving average of $254.79 and a 200 day moving average of $270.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market cap of $51.64 billion, a P/E ratio of 13.74, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released its 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 firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the firm earned $3.86 earnings per share. FedEx’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio is presently 34.63%.

Insiders Place Their Bets

In other news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of FedEx during the fourth quarter valued at approximately $807,352,000. Raymond James Financial Inc. purchased a new position in FedEx during the 4th quarter worth approximately $234,028,000. Dodge & Cox raised its stake 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 purchased a new stake in shares of FedEx in the fourth quarter valued at $145,733,000. Finally, ACR Alpine Capital Research LLC boosted its position in shares of FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after buying an additional 329,170 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.