UBS AG cut shares of FedEx Corporation (NYSE:FDX) from a buy rating to a neutral rating in a research report sent to investors on Friday morning. The firm currently has $233.00 target price on the shipping service provider’s stock, down from their prior target price of $235.00.

FDX has been the topic of several other reports. Zacks Investment Research downgraded FedEx Corporation from a buy rating to a hold rating in a report on Wednesday, June 7th. BMO Capital Markets raised their target price on FedEx Corporation from $220.00 to $245.00 and gave the company an outperform rating in a report on Friday, June 23rd. Stifel Nicolaus reiterated a neutral rating on shares of FedEx Corporation in a report on Wednesday, August 16th. Citigroup Inc. reiterated a buy rating and set a $235.00 target price on shares of FedEx Corporation in a report on Thursday. Finally, CIBC raised their target price on FedEx Corporation from $218.00 to $229.00 and gave the company an outperform rating in a report on Thursday, June 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $223.85.

FedEx Corporation (FDX) traded up 0.14% during mid-day trading on Friday, hitting $214.83. 1,811,568 shares of the company were exchanged. The stock has a market cap of $57.63 billion, a price-to-earnings ratio of 19.41 and a beta of 1.28. The firm has a 50 day moving average price of $209.74 and a 200 day moving average price of $201.96. FedEx Corporation has a 12 month low of $159.55 and a 12 month high of $219.99.

FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating the consensus estimate of $3.88 by $0.37. The business had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The company’s revenue was up 21.0% on a year-over-year basis. During the same period last year, the business posted $3.30 EPS. Analysts anticipate that FedEx Corporation will post $13.48 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.93%. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.08%.

In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the transaction, the director now owns 30,608 shares in the company, valued at approximately $6,370,749.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John L. Merino sold 7,200 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total value of $1,521,072.00. Following the transaction, the vice president now owns 33,908 shares of the company’s stock, valued at approximately $7,163,404.08. The disclosure for this sale can be found here. Insiders have sold a total of 77,757 shares of company stock valued at $16,447,426 in the last quarter. 8.45% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Krilogy Financial LLC boosted its position in FedEx Corporation by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares during the period. Cribstone Capital Management LLC boosted its position in FedEx Corporation by 1.2% during the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after acquiring an additional 6 shares during the period. Guardian Life Insurance Co. of America boosted its position in FedEx Corporation by 1.0% during the 1st quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after acquiring an additional 9 shares during the period. Brick & Kyle Associates boosted its position in FedEx Corporation by 1.5% during the 1st quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after acquiring an additional 10 shares during the period. Finally, Park National Corp OH boosted its position in FedEx Corporation by 0.9% during the 2nd quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock worth $256,000 after acquiring an additional 10 shares during the period. Institutional investors own 75.86% of the company’s stock.

FedEx Corporation 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.

Analyst Recommendations for FedEx Corporation (NYSE:FDX)

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