FedEx (NYSE:FDX) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a research note released on Tuesday morning.

A number of other brokerages also recently weighed in on FDX. Susquehanna lowered their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Stephens restated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Stifel Nicolaus decreased their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Evercore ISI decreased their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Trading Up 1.6 %

NYSE:FDX opened at $275.45 on Tuesday. The company’s 50 day moving average price is $276.19 and its 200-day moving average price is $275.22. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market cap of $67.30 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.10 and a beta of 1.17.

FedEx (NYSE:FDX) last issued 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). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company earned $4.55 EPS. On average, equities research analysts forecast that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.00%. FedEx’s payout ratio is 34.05%.

Hedge Funds Weigh In On FedEx

Several institutional investors have recently bought and sold shares of FDX. Evermay Wealth Management LLC grew 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 valued at $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx during the third quarter valued at $31,000. Central Valley Advisors LLC purchased a new position in FedEx during the second quarter valued at $39,000. Abound Wealth Management grew its stake in FedEx by 175.9% during 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. Finally, Harbor Capital Advisors Inc. purchased a new position in FedEx during the third quarter valued at $47,000. 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.