FedEx (NYSE:FDX) Stock Price Up 2.3% – Time to Buy?

FedEx Co. (NYSE:FDX) was up 2.3% during trading on Wednesday . The company traded as high as $272.90 and last traded at $271.98. Approximately 396,567 shares changed hands during trading, a decline of 79% from the average daily volume of 1,847,788 shares. The stock had previously closed at $265.92.

Analyst Ratings Changes

FDX has been the subject of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Raymond James dropped their target price on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Robert W. Baird reduced their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Argus lifted their price objective on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Susquehanna reduced their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

The business has a 50 day simple moving average of $280.16 and a 200-day simple moving average of $275.04. The company has a market capitalization of $67.52 billion, a P/E ratio of 15.96, a PEG ratio of 1.06 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.55 earnings per share. Analysts predict that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Central Valley Advisors LLC bought a new position in FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management boosted its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. Sachetta LLC increased its stake in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares during the period. ORG Partners LLC bought a new stake in FedEx during the second quarter worth approximately $50,000. Finally, OFI Invest Asset Management lifted its position in FedEx by 91.8% in the first quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock worth $50,000 after purchasing an additional 89 shares during the period. Institutional investors 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.