FedEx’s (FDX) Buy Rating Reaffirmed at Barclays

FedEx (NYSE:FDX)‘s stock had its “buy” rating reiterated by analysts at Barclays in a research report issued to clients and investors on Monday,MarketScreener reports.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of FedEx in a research report on Thursday, April 9th. Truist Financial upped their price target on FedEx from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Susquehanna increased their price target on FedEx from $410.00 to $455.00 and gave the company a “positive” rating in a research note on Friday, March 20th. Wall Street Zen lowered FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 12th. Finally, Evercore upped their target price on FedEx from $364.00 to $380.00 in a report on Tuesday, February 24th. Eighteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $398.04.

FedEx Stock Up 0.1%

NYSE:FDX opened at $379.00 on Monday. FedEx has a one year low of $214.35 and a one year high of $404.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The company has a market cap of $90.43 billion, a PE ratio of 20.21, a P/E/G ratio of 1.44 and a beta of 1.29. The firm’s 50 day simple moving average is $370.10 and its 200 day simple moving average is $323.04.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.51 earnings per share. On average, research analysts anticipate that FedEx will post 19.72 earnings per share for the current year.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of FedEx stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the completion of the sale, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. The trade was a 36.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares in the company, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,104 shares of company stock valued at $17,599,006 over the last 90 days. 0.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in FedEx in the fourth quarter worth $859,085,000. Vanguard Group Inc. raised its holdings in shares of FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares during the period. Boston Partners bought a new position in shares of FedEx during the 3rd quarter worth about $468,195,000. Dodge & Cox grew its stake in shares of FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after buying an additional 1,742,666 shares during the period. Finally, AQR Capital Management LLC increased its position in FedEx by 169.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after buying an additional 1,718,278 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.