FedEx Corporation (FDX) Now Covered by Analysts at Goldman Sachs Group, Inc. (The)
Research analysts at Goldman Sachs Group, Inc. (The) initiated coverage on shares of FedEx Corporation (NYSE:FDX) in a research note issued to investors on Monday. The brokerage set a “buy” rating on the shipping service provider’s stock.
FDX has been the subject of several other research reports. Vetr cut FedEx Corporation to a “sell” rating and set a $204.84 price target for the company. in a research note on Thursday, August 31st. BMO Capital Markets restated a “buy” rating and set a $245.00 price target on shares of FedEx Corporation in a research note on Wednesday, September 6th. BidaskClub lowered FedEx Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research lowered FedEx Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $247.00 price objective (up previously from $240.00) on shares of FedEx Corporation in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $228.56.
Shares of FedEx Corporation (NYSE FDX) opened at $218.15 on Monday. FedEx Corporation has a 52 week low of $182.11 and a 52 week high of $231.35. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $58,496.42, a P/E ratio of 18.32, a PEG ratio of 1.37 and a beta of 1.37.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The company had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter last year, the company earned $2.90 EPS. FedEx Corporation’s revenue for the quarter was up 4.1% compared to the same quarter last year. research analysts forecast that FedEx Corporation will post 12.47 EPS for the current fiscal year.
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In related news, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares in the company, valued at $12,059,712.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Henry J. Maier sold 11,150 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now owns 36,747 shares in the company, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock worth $9,024,637 over the last quarter. 8.45% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. BlackRock Inc. lifted its position in FedEx Corporation by 1,912.1% during the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after buying an additional 14,086,601 shares during the period. Harbour Capital Advisors LLC lifted its position in FedEx Corporation by 21,011.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after buying an additional 1,418,066 shares during the period. Davis Selected Advisers lifted its position in FedEx Corporation by 265.4% during the second quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock worth $366,118,000 after buying an additional 1,223,646 shares during the period. Vanguard Group Inc. lifted its position in FedEx Corporation by 5.4% during the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after buying an additional 918,896 shares during the period. Finally, Janus Henderson Group PLC lifted its position in FedEx Corporation by 381.6% during the second quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock worth $191,934,000 after buying an additional 699,728 shares during the period. Hedge funds and other institutional investors own 76.22% of the company’s stock.
About FedEx Corporation
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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