FedEx Corp. (NYSE:FDX)‘s stock had its “buy” rating reissued by equities researchers at Citigroup Inc. in a note issued to investors on Thursday.
Several other equities research analysts have also commented on FDX. Cowen and Company restated a “buy” rating and issued a $180.00 price objective on shares of FedEx Corp. in a research report on Saturday, June 18th. Deutsche Bank AG upped their price objective on FedEx Corp. from $190.00 to $198.00 and gave the stock a “buy” rating in a research report on Thursday, June 23rd. Zacks Investment Research upgraded FedEx Corp. from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Thursday, June 2nd. Vetr lowered FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $177.10 price objective on the stock. in a research report on Wednesday. Finally, Stifel Nicolaus upped their price objective on FedEx Corp. from $179.00 to $186.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned 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 a consensus price target of $175.85.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.12% during midday trading on Thursday, reaching $173.66. 3,148,496 shares of the company traded hands. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $175.38. The stock has a 50 day moving average price of $164.57 and a 200 day moving average price of $161.19. The firm has a market capitalization of $46.11 billion, a PE ratio of 26.68 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. FedEx Corp. had a return on equity of 21.56% and a net margin of 3.49%. The business had revenue of $14.70 billion for the quarter. During the same quarter in the prior year, the company posted $2.42 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts expect that FedEx Corp. will post $12.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is 23.99%.
In related news, Director John A. Edwardson sold 2,882 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael L. Ducker sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were 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.
Institutional investors have recently made changes to their positions in the stock. 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 period. 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 valued at $148,000 after buying an additional 650 shares during the last quarter. Invictus RG bought a new position in shares of FedEx Corp. during the first quarter valued at about $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 valued at $200,000 after buying an additional 32 shares during the last quarter. Finally, HBK Sorce Advisory LLC bought a new position in shares of FedEx Corp. during the second quarter valued at about $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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