FedEx Corp. (NYSE:FDX) had its price target increased by Oppenheimer Holdings Inc. from $180.00 to $184.00 in a research report released on Wednesday. They currently have an outperform rating on the shipping service provider’s stock.
Several other research firms also recently commented on FDX. Sanford C. Bernstein set a $159.00 price objective on shares of FedEx Corp. and gave the stock a neutral rating in a report on Wednesday, September 21st. Credit Suisse Group AG reissued a buy rating on shares of FedEx Corp. in a report on Thursday, June 16th. Robert W. Baird reissued a buy rating and issued a $176.00 price target on shares of FedEx Corp. in a report on Thursday, June 23rd. Vetr raised shares of FedEx Corp. from a buy rating to a strong-buy rating and set a $179.94 price target for the company in a report on Monday, July 25th. Finally, Zacks Investment Research downgraded shares of FedEx Corp. from a buy rating to a hold rating in a report on Monday, May 30th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. FedEx Corp. has a consensus rating of Buy and an average target price of $176.59.
Shares of FedEx Corp. (NYSE:FDX) opened at 175.34 on Wednesday. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $176.16. The company has a 50 day moving average of $165.72 and a 200 day moving average of $162.01. The company has a market cap of $46.60 billion, a PE ratio of 26.22 and a beta of 1.35.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.81 by $0.09. The company earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.61% and a return on equity of 20.62%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the business posted $2.42 earnings per share. On average, analysts expect that FedEx Corp. will post $12.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s payout ratio is presently 23.99%.
In related news, Director John A. Edwardson sold 2,882 shares of FedEx Corp. stock in a transaction on Friday, August 5th. The shares were sold at an average price of $162.63, for a total value of $468,699.66. Following the transaction, the director now owns 29,090 shares in the company, valued at approximately $4,730,906.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael L. Ducker sold 5,000 shares of FedEx Corp. stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $158.43, for a total transaction of $792,150.00. Following the completion of the transaction, the chief executive officer now owns 56,265 shares in the company, valued at approximately $8,914,063.95. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. First Personal Financial Services boosted its position in shares of FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock worth $107,000 after buying an additional 111 shares during the last quarter. Glassman Wealth Services boosted its position in shares of FedEx Corp. by 200.6% in the second quarter. Glassman Wealth Services now owns 974 shares of the shipping service provider’s stock worth $148,000 after buying an additional 650 shares during the last quarter. Invictus RG acquired a new position in shares of FedEx Corp. during the first quarter worth approximately $161,000. Beese Fulmer Investment Management Inc. boosted its position in shares of FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock worth $200,000 after buying an additional 32 shares during the last quarter. Finally, HBK Sorce Advisory LLC acquired a new position in shares of FedEx Corp. during the second quarter worth approximately $202,000. Institutional investors own 73.78% of the company’s stock.
FedEx Corp. Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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