FedEx Corp. (NYSE:FDX) had its price objective hoisted by Stifel Nicolaus from $179.00 to $186.00 in a report released on Wednesday morning. The brokerage currently has a buy rating on the shipping service provider’s stock.
Several other research firms have also commented on FDX. Zacks Investment Research lowered FedEx Corp. from a hold rating to a sell rating in a research report on Tuesday, August 23rd. Royal Bank Of Canada boosted their price target on FedEx Corp. from $158.00 to $174.00 and gave the stock a sector perform rating in a research report on Wednesday, June 22nd. Sanford C. Bernstein reissued a hold rating on shares of FedEx Corp. in a research report on Thursday, May 26th. Morgan Stanley reissued a hold rating on shares of FedEx Corp. in a research report on Monday, June 6th. Finally, Oppenheimer Holdings Inc. reissued a buy rating on shares of FedEx Corp. in a research report on Monday, June 6th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $176.59.
Shares of FedEx Corp. (NYSE:FDX) opened at 175.34 on Wednesday. The stock has a 50 day moving average price of $165.72 and a 200 day moving average price of $162.01. The firm has a market capitalization of $46.60 billion, a P/E ratio of 26.22 and a beta of 1.35. FedEx Corp. has a 12-month low of $119.71 and a 12-month high of $176.16.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.09. The business had revenue of $14.70 billion for the quarter. FedEx Corp. had a return on equity of 20.62% and a net margin of 3.61%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.42 earnings per share. Equities analysts anticipate that FedEx Corp. will post $12.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. FedEx Corp.’s payout ratio is currently 23.99%.
In related news, Director John A. Edwardson sold 2,882 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $162.63, for a total transaction of $468,699.66. Following the completion of the transaction, the director now directly owns 29,090 shares in the company, valued at approximately $4,730,906.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael L. Ducker sold 5,000 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $158.43, for a total value of $792,150.00. Following the transaction, the chief executive officer now owns 56,265 shares of the company’s stock, valued at $8,914,063.95. The disclosure for this sale can be found here. Corporate insiders own 8.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Personal Financial Services raised 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 period. Glassman Wealth Services raised 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 period. Invictus RG acquired a new position in shares of FedEx Corp. during the first quarter worth about $161,000. Beese Fulmer Investment Management Inc. raised 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 period. Finally, HBK Sorce Advisory LLC acquired a new position in shares of FedEx Corp. during the second quarter worth about $202,000. Hedge funds and other 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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