FedEx Corp. (NYSE:FDX) Receives Average Rating of “Buy” from Analysts
FedEx Corp. (NYSE:FDX) has earned a consensus rating of “Buy” from the twenty-two brokerages that are presently covering the company. Ten research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $174.59.
Several research analysts recently commented on the stock. Vetr downgraded shares of FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 target price on the stock. in a research note on Tuesday, September 27th. Robert W. Baird reissued an “outperform” rating and set a $185.00 price objective on shares of FedEx Corp. in a research report on Friday, September 23rd. Citigroup Inc. reissued a “buy” rating on shares of FedEx Corp. in a research report on Thursday, September 22nd. Zacks Investment Research raised shares of FedEx Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Finally, Barclays PLC reissued a “top pick” rating on shares of FedEx Corp. in a research report on Wednesday, September 21st.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.65% on Monday, reaching $173.54. 612,302 shares of the company traded hands. The stock’s 50 day moving average price is $166.98 and its 200-day moving average price is $162.66. The stock has a market capitalization of $46.12 billion, a P/E ratio of 25.96 and a beta of 1.28. FedEx Corp. has a one year low of $119.71 and a one year high of $177.36.
FedEx Corp. (NYSE:FDX) last issued its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping the consensus estimate of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The company had revenue of $14.70 billion for the quarter. During the same period in the previous year, the firm earned $2.42 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities analysts forecast that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders 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 dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s payout ratio is currently 23.99%.
In related news, EVP Alan B. Graf, Jr. sold 7,400 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $159.43, for a total value of $1,179,782.00. Following the completion of the sale, the executive vice president now directly owns 150,665 shares of the company’s stock, valued at approximately $24,020,520.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Carter sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $164.51, for a total transaction of $822,550.00. Following the completion of the sale, the executive vice president now directly owns 53,399 shares of the company’s stock, valued at $8,784,669.49. The disclosure for this sale can be found here. Insiders own 8.67% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FDX. First Personal Financial Services raised its stake in FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 111 shares in the last quarter. Glassman Wealth Services raised its stake in 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 in the last quarter. Invictus RG purchased a new stake in FedEx Corp. during the first quarter valued at about $161,000. Beese Fulmer Investment Management Inc. raised its stake in 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 in the last quarter. Finally, HBK Sorce Advisory LLC purchased a new stake in FedEx Corp. during the second quarter valued at about $202,000. 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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