FedEx (NYSE:FDX) Reaches New 1-Year Low – Time to Sell?

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on FDX. BMO Capital Markets lowered their price objective on FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research report on Friday, March 21st. Citigroup dropped their price target on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Stephens dropped their target price on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Finally, Piper Sandler lowered shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $302.71.

FedEx Trading Down 2.8 %

The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average is $252.45 and its 200 day moving average is $269.15. The company has a market cap of $50.29 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

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

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.63%. FedEx’s dividend payout ratio (DPR) is 34.63%.

Insider Activity at FedEx

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 sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

Hedge funds have recently modified their holdings of the company. Fortitude Family Office LLC raised its holdings in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Transce3nd LLC purchased a new position in FedEx in the 4th quarter valued at approximately $26,000. Peoples Financial Services CORP. acquired a new position in shares of FedEx in the fourth quarter worth $28,000. City Holding Co. purchased a new stake in shares of FedEx during the fourth quarter worth $28,000. Finally, Kentucky Trust Co purchased a new stake in shares of FedEx during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.