FedEx Co. (NYSE:FDX) Receives an Average “Moderate Buy” Recommendation from Brokerages
FedEx Co. (NYSE:FDX – Get Rating) has been assigned a consensus “moderate buy” recommendation by the twenty-five analysts who currently cover the company, Marketbeat.com reports. Nine equity research analysts rated the stock with a hold recommendation and twelve issued a buy recommendation on the company. The 12-month average price target among analysts who have reported on the stock over the past year is $245.04.
FDX has been the subject of several analyst reports. UBS Group lowered its price target on FedEx from $308.00 to $232.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus downgraded FedEx from a “buy” rating to a “hold” rating and lowered its price target for the company from $288.00 to $195.00 in a research note on Friday. Morgan Stanley lowered its price target on FedEx from $255.00 to $250.00 in a Wednesday, September 7 research note. Goldman Sachs Group cut its price target on FedEx from $288.00 to $250.00 and set a “buy” rating for the company in a research note on Friday. Finally, Credit Suisse Group cut its price target on FedEx from $314.00 to $246.00 and set an “outperform” rating for the company in a research note on Friday.
FedEx Price Performance
NYSE:FDX opened at $161.02 on Friday. The company has a market capitalization of $41.85 billion, a price-earnings ratio of 11.26, a PEG ratio of 0.74 and a beta of 1.21. FedEx has a 1 year minimum of $155.00 and a 1 year maximum of $266.79. The company has a 50-day simple moving average of $221.14 and a 200-day simple moving average of $218.02. The company has a debt ratio of 0.81, a current ratio of 1.43 and a quick ratio of 1.38.
FedEx (NYSE:FDX – Get Rating) last released quarterly earnings data on Thursday, June 23. The shipping service provider reported earnings per share (EPS) of $6.87 for the quarter, missing the consensus estimate of $6.91 per ($0.04). The company posted revenue of $24.39 billion in the quarter, versus a consensus estimate of $24.28 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. In the same period a year earlier, the company had earned earnings per share of $5.01. Stock analysts expect FedEx to post EPS of 23.01 for the current year.
FedEx announces dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3. Shareholders of record on Friday, September 2 will receive a dividend of $1.15. This represents a dividend of $4.60 on an annualized basis and a dividend yield of 2.86%. The ex-date of this dividend is Thursday, September 1. FedEx’s dividend payout ratio is currently 32.17%.
In addition, director Vincenzo J. Vena purchased 900 shares in a transaction dated Wednesday, July 6. The shares were acquired at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the acquisition, the director now owns 1,325 shares of the company, valued at $304,803. The acquisition was disclosed in a legal filing with the SEC, which is available via this hyperlink. In addition, director Vincenzo J. Vena purchased 900 shares in a transaction dated Wednesday, July 6. The shares were acquired at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the acquisition, the director now owns 1,325 shares of the company, valued at $304,803. The acquisition was disclosed in a legal filing with the SEC, which is available via this hyperlink. Additionally, Executive Vice President Robert B. Carter sold 12,310 shares of the company in a transaction dated Friday, July 8. The shares were sold at an average price of $230.61, for a total transaction of $2,838,809.10. Following the completion of the sale, the executive vice president now owns 54,916 shares of the company, valued at $12,664,178.76. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 48,810 shares of the company worth $11,199,898. Company insiders hold 8.62% of the company’s shares.
Hedge funds weigh on FedEx
Several hedge funds and other institutional investors have recently changed their stock holdings. Activest Wealth Management increased its position in FedEx by 121.6% during the 2nd quarter. Activest Wealth Management now owns 113 shares of the shipping service provider worth $26,000 after buying 62 more shares in the last quarter. Holloway Wealth Management LLC bought a new position in FedEx during Q1 worth approximately $29,000. American National Bank increased its position in FedEx by 206.7% during the 2nd quarter. American National Bank now owns 138 shares of the shipping service provider worth $31,000 after buying 93 more shares in the last quarter. Global Wealth Management Investment Advisory Inc. bought a new position in FedEx during Q1 worth approximately $35,000. Finally, Byrne Asset Management LLC bought a new position in FedEx stock during Q4 worth approximately $36,000. 71.62% of the shares are held by hedge funds and other institutional investors.
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FedEx Corporation provides transportation, e-commerce and business services in the United States and internationally. The Company’s FedEx Express segment offers express transportation, small package ground delivery and freight transportation services; urgent transport services; and enabling, technology and cross-border transport solutions for e-commerce.
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