FedEx (NYSE:FDX) had its price objective upped by Oppenheimer from $265.00 to $274.00 in a report published on Friday morning. They currently have an outperform rating on the shipping service provider’s stock.
Several other equities research analysts also recently weighed in on FDX. Zacks Investment Research downgraded shares of FedEx from a hold rating to a sell rating in a research note on Monday, November 27th. Barclays reaffirmed an overweight rating and set a $270.00 target price (up from $230.00) on shares of FedEx in a research note on Thursday, November 30th. They noted that the move was a valuation call. Citigroup upped their target price on shares of FedEx to $275.00 and gave the stock a buy rating in a research note on Tuesday, December 12th. Credit Suisse Group reaffirmed an outperform rating and set a $278.00 target price (up from $233.00) on shares of FedEx in a research note on Thursday, December 14th. Finally, Cowen reaffirmed an outperform rating and set a $280.00 target price (up from $240.00) on shares of FedEx in a research note on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $275.86.
FedEx (NYSE:FDX) traded up $4.63 during trading on Friday, hitting $252.03. 2,165,965 shares of the stock were exchanged, compared to its average volume of 1,478,355. The stock has a market cap of $66,275.88, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32. FedEx has a twelve month low of $182.89 and a twelve month high of $274.66. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.29. The business had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.80 EPS. equities research analysts forecast that FedEx will post 13.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, March 9th. FedEx’s payout ratio is 18.43%.
In other news, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the completion of the transaction, the chief operating officer now owns 48,562 shares in the company, valued at approximately $12,407,105.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert B. Carter sold 3,970 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,541 shares of company stock valued at $13,692,142. Company insiders own 8.45% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Ingalls & Snyder LLC boosted its stake in FedEx by 2.4% during the 4th quarter. Ingalls & Snyder LLC now owns 8,119 shares of the shipping service provider’s stock worth $2,026,000 after purchasing an additional 193 shares during the period. Bremer Trust National Association boosted its stake in FedEx by 2.6% during the 4th quarter. Bremer Trust National Association now owns 7,822 shares of the shipping service provider’s stock worth $1,952,000 after purchasing an additional 197 shares during the period. Central Bank & Trust Co. boosted its stake in FedEx by 2.2% during the 4th quarter. Central Bank & Trust Co. now owns 9,345 shares of the shipping service provider’s stock worth $2,332,000 after purchasing an additional 201 shares during the period. Cobiz Wealth LLC boosted its stake in FedEx by 0.8% during the 4th quarter. Cobiz Wealth LLC now owns 25,472 shares of the shipping service provider’s stock worth $6,356,000 after purchasing an additional 202 shares during the period. Finally, MAI Capital Management boosted its stake in FedEx by 14.1% during the 4th quarter. MAI Capital Management now owns 1,632 shares of the shipping service provider’s stock worth $407,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 74.65% of the company’s stock.
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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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