FedEx Corp. (NYSE:FDX) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday. They currently have a $179.94 target price on the shipping service provider’s stock. Vetr‘s target price suggests a potential upside of 2.62% from the company’s current price.
A number of other analysts have also recently commented on the company. Wolfe Research raised FedEx Corp. from a “market perform” rating to an “outperform” rating in a research note on Friday, July 1st. Cowen and Company reiterated a “market perform” rating and issued a $110.00 price objective on shares of FedEx Corp. in a research report on Sunday, July 31st. Zacks Investment Research lowered FedEx Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 23rd. Bank of America Corp. reiterated a “buy” rating on shares of FedEx Corp. in a research report on Thursday, June 16th. Finally, Barclays PLC reiterated a “top pick” rating on shares of FedEx Corp. in a research report on Wednesday, September 21st. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $176.59.
FedEx Corp. (NYSE:FDX) opened at 175.34 on Tuesday. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $176.16. The stock 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 price-to-earnings ratio of 26.22 and a beta of 1.35.
FedEx Corp. (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.09. The company earned $14.70 billion during the quarter. FedEx Corp. had a return on equity of 20.62% and a net margin of 3.61%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $2.42 earnings per share. On average, analysts forecast that FedEx Corp. will post $12.15 EPS for the current year.
The business 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 $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, September 8th. FedEx Corp.’s payout ratio is presently 23.99%.
In related news, EVP Alan B. Graf, Jr. sold 7,400 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $159.43, for a total value of $1,179,782.00. Following the sale, the executive vice president now owns 150,665 shares in the company, valued at approximately $24,020,520.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael L. Ducker sold 5,000 shares of the stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $158.43, for a total value of $792,150.00. Following the completion of the sale, 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 owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Ferguson Wellman Capital Management Inc. boosted its stake in FedEx Corp. by 1.1% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 115,921 shares of the shipping service provider’s stock worth $17,594,000 after buying an additional 1,230 shares during the period. Legal & General Group Plc boosted its stake in FedEx Corp. by 2.0% in the first quarter. Legal & General Group Plc now owns 1,159,796 shares of the shipping service provider’s stock worth $188,709,000 after buying an additional 22,819 shares during the period. Southpoint Capital Advisors LP acquired a new stake in FedEx Corp. during the first quarter worth $90,607,000. Prudential PLC boosted its stake in FedEx Corp. by 7.5% in the first quarter. Prudential PLC now owns 45,245 shares of the shipping service provider’s stock worth $7,362,000 after buying an additional 3,163 shares during the period. Finally, Trust Co. of Vermont boosted its stake in FedEx Corp. by 2.1% in the second quarter. Trust Co. of Vermont now owns 13,697 shares of the shipping service provider’s stock worth $2,079,000 after buying an additional 278 shares during the period. Institutional investors and hedge funds own 73.78% of the company’s stock.
About FedEx Corp.
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.
To view Vetr’s full report, visit Vetr’s official website.
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