FedEx (NYSE:FDX) Announces Earnings Results

FedEx (NYSE:FDX) announced its earnings results on Tuesday. The shipping service provider reported $5.88 earnings per share for the quarter, FiscalAI reports. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $22.19 billion for the quarter.

FedEx Trading Up 3.0%

Shares of FDX traded up $9.05 during mid-day trading on Tuesday, reaching $315.27. The company’s stock had a trading volume of 1,548,218 shares, compared to its average volume of 2,252,429. The stock has a market cap of $75.23 billion, a PE ratio of 17.03, a P/E/G ratio of 1.61 and a beta of 1.29. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx has a 52 week low of $172.88 and a 52 week high of $345.36. The company’s fifty day moving average price is $340.67 and its two-hundred day moving average price is $349.72.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of FedEx

Institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 207 shares during the period. Empowered Funds LLC boosted its stake in shares of FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after purchasing an additional 4,548 shares during the period. Sivia Capital Partners LLC bought a new position in shares of FedEx in the second quarter worth approximately $586,000. Quantbot Technologies LP bought a new position in shares of FedEx in the second quarter worth approximately $186,000. Finally, Jump Financial LLC purchased a new position in shares of FedEx in the second quarter worth $456,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on FDX shares. Raymond James Financial decreased their price target on shares of FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, June 24th. Weiss Ratings downgraded shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Evercore set a $165.00 target price on shares of FedEx in a research report on Friday, June 26th. Rothschild & Co Redburn reduced their target price on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Finally, Stifel Nicolaus reduced their target price on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.