Goldman Sachs Group initiated coverage on shares of FedEx (NYSE:FDX) in a research note issued to investors on Wednesday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $200.00 price target on the shipping service provider’s stock.
Other equities research analysts have also issued reports about the stock. Citigroup restated a hold rating on shares of AbbVie in a report on Wednesday, June 26th. Cowen restated an outperform rating and set a $228.00 price objective (down from $230.00) on shares of FedEx in a report on Thursday, June 20th. BMO Capital Markets restated an outperform rating and set a C$13.00 price objective on shares of IPL Plastics in a report on Wednesday, March 20th. KeyCorp dropped their price objective on shares of FedEx from $215.00 to $190.00 and set an overweight rating on the stock in a report on Wednesday, June 12th. Finally, Credit Suisse Group began coverage on shares of Magna International in a report on Wednesday, June 26th. They set a neutral rating and a $55.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. FedEx has an average rating of Buy and an average target price of $191.63.
FDX opened at $167.47 on Wednesday. The stock has a fifty day moving average price of $161.16. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $43.64 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 0.90 and a beta of 1.65. FedEx has a twelve month low of $150.68 and a twelve month high of $259.25.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.93 by $0.08. FedEx had a net margin of 0.77% and a return on equity of 21.57%. The business had revenue of $17.81 billion for the quarter, compared to analyst estimates of $17.85 billion. During the same period last year, the business posted $5.91 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Research analysts forecast that FedEx will post 14.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Monday, June 24th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Friday, June 21st. FedEx’s dividend payout ratio (DPR) is currently 16.75%.
In other news, Director Paul S. Walsh sold 4,440 shares of FedEx stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the transaction, the director now owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. First Dallas Securities Inc. grew its position in shares of FedEx by 7.4% in the 1st quarter. First Dallas Securities Inc. now owns 6,133 shares of the shipping service provider’s stock valued at $1,113,000 after acquiring an additional 425 shares during the period. Dynamic Advisor Solutions LLC bought a new position in shares of FedEx in the 1st quarter valued at about $322,000. Tredje AP fonden grew its position in shares of FedEx by 23.7% in the 1st quarter. Tredje AP fonden now owns 19,898 shares of the shipping service provider’s stock valued at $3,623,000 after acquiring an additional 3,817 shares during the period. BRYN MAWR TRUST Co grew its position in shares of FedEx by 1.7% in the 4th quarter. BRYN MAWR TRUST Co now owns 15,716 shares of the shipping service provider’s stock valued at $2,535,000 after acquiring an additional 259 shares during the period. Finally, Physicians Financial Services Inc. grew its position in shares of FedEx by 3.8% in the 1st quarter. Physicians Financial Services Inc. now owns 6,889 shares of the shipping service provider’s stock valued at $1,250,000 after acquiring an additional 254 shares during the period. 69.25% of the stock is owned by institutional investors.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
Featured Article: SEC Filing
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.