FedEx Corporation (NYSE:FDX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

FedEx Corporation (NYSE:FDX) has been given an average recommendation of “Moderate Buy” by the thirty brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $350.5426.

A number of research firms have recently commented on FDX. Deutsche Bank Aktiengesellschaft cut FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. TD Cowen reduced their price objective on FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Wall Street Zen upgraded FedEx from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Wells Fargo & Company lowered their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Finally, Evercore set a $165.00 target price on shares of FedEx in a report on Friday, June 26th.

FedEx Stock Performance

Shares of NYSE:FDX opened at $314.77 on Friday. FedEx has a 1 year low of $172.88 and a 1 year high of $345.36. The stock has a market capitalization of $74.47 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The company’s 50 day simple moving average is $335.98 and its 200 day simple moving average is $350.05.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, research analysts predict that FedEx will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio is currently 26.36%.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new stake in shares of FedEx during the 1st quarter valued at $25,000. Bayban acquired a new position in FedEx in the 1st quarter worth about $26,000. Cedar Mountain Advisors LLC increased its holdings in FedEx by 77.4% in the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 41 shares in the last quarter. EFG International AG bought a new position in FedEx in the fourth quarter valued at about $27,000. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of FedEx during the fourth quarter valued at about $29,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.