FedEx Corp. (NYSE:FDX) has been assigned an average rating of “Buy” from the twenty-two brokerages that are covering the stock. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $174.59.
A number of research firms have recently commented on FDX. Vetr downgraded FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 price objective on the stock. in a report on Tuesday, September 27th. Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a report on Thursday, September 22nd. Zacks Investment Research upgraded FedEx Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Robert W. Baird reiterated an “outperform” rating and issued a $185.00 price objective on shares of FedEx Corp. in a report on Friday, September 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $179.00 price objective (up previously from $178.00) on shares of FedEx Corp. in a report on Wednesday, June 22nd.
FedEx Corp. (NYSE:FDX) traded down 0.65% during midday trading on Monday, hitting $173.54. The company had a trading volume of 612,302 shares. The firm has a 50-day moving average price of $166.98 and a 200-day moving average price of $162.66. The company has a market cap of $46.12 billion, a price-to-earnings ratio of 25.96 and a beta of 1.28. FedEx Corp. has a 12 month low of $119.71 and a 12 month high of $177.36.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.81 by $0.09. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The company had revenue of $14.70 billion for the quarter. During the same quarter last year, the company earned $2.42 EPS. FedEx Corp.’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts anticipate that FedEx Corp. will post $12.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s payout ratio is 23.99%.
In other FedEx Corp. news, CEO Michael L. Ducker sold 5,000 shares of the firm’s 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 of the company’s stock, valued at $8,914,063.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Carter sold 24,784 shares of the firm’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $176.95, for a total value of $4,385,528.80. Following the transaction, the executive vice president now directly owns 68,183 shares of the company’s stock, valued at approximately $12,064,981.85. The disclosure for this sale can be found here. Company insiders own 8.67% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Peapack Gladstone Financial Corp increased its position in FedEx Corp. by 42.8% in the first quarter. Peapack Gladstone Financial Corp now owns 31,990 shares of the shipping service provider’s stock valued at $5,205,000 after buying an additional 9,583 shares during the last quarter. Insight Capital Research & Management Inc. bought a new position in FedEx Corp. during the first quarter valued at $2,181,000. Franklin Resources Inc. increased its stake in shares of FedEx Corp. by 72.4% in the first quarter. Franklin Resources Inc. now owns 481,565 shares of the shipping service provider’s stock worth $78,363,000 after buying an additional 202,245 shares in the last quarter. Algert Global LLC acquired a new stake in shares of FedEx Corp. during the first quarter worth approximately $1,238,000. Finally, Prudential Financial Inc. increased its stake in shares of FedEx Corp. by 30.3% in the first quarter. Prudential Financial Inc. now owns 1,194,772 shares of the shipping service provider’s stock worth $194,414,000 after buying an additional 277,960 shares in the last quarter. 73.72% of the stock is owned by institutional investors.
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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