Wells Fargo & Co set a $275.00 price objective on FedEx (NYSE:FDX) in a research report released on Wednesday, December 20th. The brokerage currently has a buy rating on the shipping service provider’s stock.
Several other equities analysts have also recently issued reports on FDX. Zacks Investment Research cut shares of FedEx from a hold rating to a sell rating in a research note on Tuesday, August 22nd. Vetr cut shares of FedEx to a sell rating and set a $204.84 price objective on the stock. in a research note on Thursday, August 31st. BMO Capital Markets reaffirmed a buy rating and issued a $245.00 price objective on shares of FedEx in a research note on Wednesday, September 6th. Cowen reaffirmed a buy rating and issued a $240.00 price objective on shares of FedEx in a research note on Tuesday, September 12th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $235.00 price objective on shares of FedEx in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $269.95.
FedEx (FDX) traded up $0.66 during trading on Wednesday, reaching $271.85. 1,340,000 shares of the company’s stock traded hands, compared to its average volume of 1,960,000. The firm has a market cap of $72,830.00, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.63 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. FedEx has a 52-week low of $182.89 and a 52-week high of $271.90.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.29. The firm had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. FedEx’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $2.80 EPS. equities research analysts anticipate that FedEx will post 13.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, December 8th. FedEx’s dividend payout ratio is currently 18.38%.
In related news, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the transaction, the insider now owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total transaction of $995,398.10. Following the transaction, the executive vice president now directly owns 187,025 shares in the company, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,671 shares of company stock valued at $17,137,160. 8.45% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Managed Accounts LLC bought a new position in shares of FedEx in the first quarter valued at approximately $100,000. Salem Investment Counselors Inc. raised its position in shares of FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares during the period. Krilogy Financial LLC raised its position in shares of FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares during the period. Alexandria Capital LLC raised its position in shares of FedEx by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after purchasing an additional 13 shares during the period. Finally, Financial Engines Advisors L.L.C. bought a new position in shares of FedEx in the third quarter valued at approximately $132,000. 75.66% of the stock is currently owned by hedge funds and other institutional investors.
FedEx 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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