FedEx (NYSE:FDX) Stock Price Up 0.4% – Time to Buy?

FedEx Co. (NYSE:FDX) traded up 0.4% during trading on Tuesday . The company traded as high as $269.07 and last traded at $268.53. 384,172 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,849,869 shares. The stock had previously closed at $267.45.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FDX shares. Wells Fargo & Company raised their price target on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group cut their price objective on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. BMO Capital Markets decreased their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Loop Capital decreased their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The business has a fifty day simple moving average of $280.25 and a 200 day simple moving average of $275.05. The firm has a market cap of $67.51 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.06 and a beta of 1.17.

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

FedEx Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FDX. V Square Quantitative Management LLC increased its holdings in shares of FedEx by 23.4% in the third quarter. V Square Quantitative Management LLC now owns 2,604 shares of the shipping service provider’s stock valued at $713,000 after purchasing an additional 493 shares during the last quarter. DiNuzzo Private Wealth Inc. increased its stake in shares of FedEx by 2,661.5% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 718 shares of the shipping service provider’s stock worth $197,000 after acquiring an additional 692 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of FedEx by 1.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,036 shares of the shipping service provider’s stock worth $7,399,000 after acquiring an additional 479 shares during the period. Ellsworth Advisors LLC boosted its position in shares of FedEx by 31.3% during the 3rd quarter. Ellsworth Advisors LLC now owns 1,362 shares of the shipping service provider’s stock valued at $373,000 after acquiring an additional 325 shares during the last quarter. Finally, Cardinal Capital Management increased its position in FedEx by 0.8% during the third quarter. Cardinal Capital Management now owns 16,419 shares of the shipping service provider’s stock worth $4,516,000 after purchasing an additional 135 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.