Robert W. Baird reiterated their outperform rating on shares of FedEx Corp. (NYSE:FDX) in a report published on Friday morning. Robert W. Baird currently has a $185.00 price objective on the shipping service provider’s stock.
A number of other research analysts have also recently weighed in on the company. Wolfe Research raised FedEx Corp. from a market perform rating to an outperform rating in a research report on Friday, July 1st. Cowen and Company reaffirmed a market perform rating and set a $110.00 price objective on shares of FedEx Corp. in a research report on Sunday, July 31st. Zacks Investment Research cut FedEx Corp. from a hold rating to a sell rating in a research report on Tuesday, August 23rd. Vetr cut FedEx Corp. from a strong-buy rating to a buy rating and set a $179.94 price objective on the stock. in a research report on Monday, August 8th. Finally, Bank of America Corp. reaffirmed a buy rating on shares of FedEx Corp. in a research report on Thursday, June 16th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $176.59.
FedEx Corp. (NYSE:FDX) opened at 177.30 on Friday. The company has a market capitalization of $47.12 billion, a PE ratio of 26.52 and a beta of 1.35. FedEx Corp. has a 12 month low of $119.71 and a 12 month high of $177.36. The firm’s 50-day moving average is $166.11 and its 200-day moving average is $162.25.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.81 by $0.09. The business earned $14.70 billion during the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 earnings per share. Equities analysts anticipate that FedEx Corp. will post $12.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.90%. FedEx Corp.’s dividend payout ratio (DPR) is 23.99%.
In other news, EVP Alan B. Graf, Jr. sold 7,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $159.43, for a total transaction of $1,179,782.00. Following the transaction, the executive vice president now owns 150,665 shares of the company’s stock, valued at approximately $24,020,520.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John A. Edwardson sold 2,882 shares of the business’s stock in a transaction that occurred 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 directly owns 29,090 shares in the company, valued at approximately $4,730,906.70. The disclosure for this sale can be found here. Insiders own 8.67% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Douglas Lane & Associates LLC bought a new position in FedEx Corp. during the first quarter valued at $4,028,000. First Manhattan Co. increased its position in FedEx Corp. by 500.7% in the first quarter. First Manhattan Co. now owns 53,547 shares of the shipping service provider’s stock valued at $8,713,000 after buying an additional 44,633 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in FedEx Corp. during the first quarter valued at $837,000. Lodestar Investment Counsel LLC IL bought a new position in FedEx Corp. during the first quarter valued at $763,000. Finally, Bridges Investment Management Inc. increased its position in FedEx Corp. by 3.9% in the first quarter. Bridges Investment Management Inc. now owns 23,034 shares of the shipping service provider’s stock valued at $3,925,000 after buying an additional 875 shares in the last quarter. 73.78% of the stock is currently owned by hedge funds and other 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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