FedEx (NYSE:FDX) Shares Gap Down – Here’s Why

FedEx Co. (NYSE:FDX) gapped down before the market opened on Thursday . The stock had previously closed at $275.06, but opened at $265.00. FedEx shares last traded at $267.43, with a volume of 315,926 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BMO Capital Markets raised their price objective on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Barclays upped their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Raymond James upped their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. TD Cowen boosted their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.43.

FedEx Stock Performance

The business’s 50-day moving average price is $280.84 and its 200-day moving average price is $282.81. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a market cap of $64.84 billion, a PE ratio of 17.14, a P/E/G ratio of 1.12 and a beta of 1.20.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.99 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.05%. FedEx’s payout ratio is 35.18%.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently modified their holdings of the business. Fortitude Family Office LLC boosted its position in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the period. Evermay Wealth Management LLC increased its stake in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Peoples Financial Services CORP. acquired a new stake in shares of FedEx during the fourth quarter worth about $28,000. City Holding Co. acquired a new position in shares of FedEx in the fourth quarter valued at approximately $28,000. Finally, Kentucky Trust Co acquired a new position in shares of FedEx during the fourth quarter worth $28,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.