FedEx (NYSE:FDX) Reaches New 52-Week High – What’s Next?

FedEx Corporation (NYSE:FDX) hit a new 52-week high on Friday . The company traded as high as $342.81 and last traded at $338.0690, with a volume of 60090 shares changing hands. The stock had previously closed at $338.00.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Seaport Research Partners initiated coverage on shares of FedEx in a report on Wednesday, May 27th. They issued a “buy” rating for the company. BNP Paribas Exane dropped their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Argus raised their price target on shares of FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Weiss Ratings lowered shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Finally, Raymond James Financial started coverage on shares of FedEx in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $180.00 price objective for the company. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $371.45.

FedEx Stock Performance

The firm has a market capitalization of $80.56 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.45 and a beta of 1.28. The company has a 50-day moving average price of $372.27 and a 200-day moving average price of $342.68. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating the consensus estimate of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same period last year, the firm earned $4.51 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx Corporation will post 19.72 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, June 22nd. FedEx’s payout ratio is currently 30.87%.

Insider Activity at FedEx

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. The trade was a 36.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gina F. Adams sold 20,450 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the sale, the executive vice president directly owned 19,403 shares of the company’s stock, valued at approximately $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in FedEx by 13.2% in the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock worth $5,527,870,000 after purchasing an additional 2,741,723 shares during the period. Dodge & Cox raised its stake in shares of FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after buying an additional 1,742,666 shares in the last quarter. State Street Corp raised its stake in shares of FedEx by 4.2% in the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after buying an additional 382,848 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of FedEx by 6.6% in the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after buying an additional 318,293 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after buying an additional 45,818 shares during the period. Institutional investors own 84.47% of the company’s stock.

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.