Shares of FedEx Corporation (NYSE:FDX) have been assigned a consensus recommendation of “Buy” from the twenty-eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and twenty-two have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $222.54.
A number of equities analysts have recently weighed in on FDX shares. Vetr cut shares of FedEx Corporation to a “sell” rating and set a $204.84 price target on the stock. in a research note on Thursday, August 31st. Stifel Nicolaus upped their price target on shares of FedEx Corporation from $194.00 to $216.00 and gave the stock a “hold” rating in a research note on Monday, June 12th. BidaskClub cut shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of FedEx Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $245.00 price target on shares of FedEx Corporation in a research note on Wednesday, September 6th.
FedEx Corporation (NYSE:FDX) opened at 212.40 on Tuesday. FedEx Corporation has a 12-month low of $158.20 and a 12-month high of $219.99. The firm’s 50-day moving average is $209.32 and its 200 day moving average is $201.38. The stock has a market capitalization of $56.98 billion, a P/E ratio of 19.19 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The business had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. During the same period in the prior year, the company posted $3.30 EPS. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities analysts expect that FedEx Corporation will post $13.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.94%. FedEx Corporation’s payout ratio is currently 18.08%.
In other news, CEO David L. Cunningham, Jr. sold 17,565 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the transaction, the chief executive officer now directly owns 29,148 shares in the company, valued at approximately $6,150,228. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kim Jabal sold 609 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $216.13, for a total transaction of $131,623.17. Following the transaction, the director now owns 2,100 shares in the company, valued at $453,873. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,757 shares of company stock worth $16,447,426. Insiders own 8.45% of the company’s stock.
Several hedge funds have recently made changes to their positions in FDX. FNY Managed Accounts LLC acquired a new stake in FedEx Corporation during the 1st quarter worth approximately $100,000. Salem Investment Counselors Inc. increased its position in FedEx Corporation by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its position in FedEx Corporation by 163.0% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock worth $105,000 after purchasing an additional 300 shares in the last quarter. Cribstone Capital Management LLC increased its position in FedEx Corporation by 1.2% during the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after purchasing an additional 6 shares in the last quarter. Finally, Krilogy Financial LLC increased its position in FedEx Corporation by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares in the last quarter. Institutional investors and hedge funds own 75.86% of the company’s stock.
FedEx Corporation 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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