FedEx Corporation (NYSE:FDX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of FedEx Corporation (NYSE:FDX) have earned an average recommendation of “Moderate Buy” from the twenty-nine ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $398.0385.

Several brokerages have recently weighed in on FDX. Wells Fargo & Company upped their price target on shares of FedEx from $430.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. TD Cowen boosted their price objective on shares of FedEx from $383.00 to $426.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Stephens reiterated an “overweight” rating and set a $435.00 price objective on shares of FedEx in a research note on Tuesday, April 14th. UBS Group reiterated a “buy” rating on shares of FedEx in a research note on Tuesday, May 5th. Finally, Raymond James Financial boosted their price objective on shares of FedEx from $305.00 to $410.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th.

Insider Activity

In related news, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the transaction, the executive vice president owned 10,953 shares in the company, valued at $4,029,499.17. The trade was a 30.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 48,104 shares of company stock worth $17,599,006. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FDX. Hollencrest Capital Management acquired a new position in FedEx during the 1st quarter valued at approximately $25,000. Bayban acquired a new position in FedEx during the 1st quarter valued at approximately $26,000. Grey Fox Wealth Advisors LLC acquired a new position in FedEx during the 3rd quarter valued at approximately $27,000. EFG International AG acquired a new position in FedEx during the 4th quarter valued at approximately $27,000. Finally, Wealth Watch Advisors INC acquired a new position in FedEx during the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $378.30 on Tuesday. The company has a 50 day moving average price of $370.10 and a 200-day moving average price of $323.04. FedEx has a fifty-two week low of $214.35 and a fifty-two week high of $404.03. The stock has a market capitalization of $90.27 billion, a PE ratio of 20.13, a PEG ratio of 1.44 and a beta of 1.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 9th were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, March 9th. FedEx’s payout ratio is 30.87%.

FedEx Company Profile

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.