FedEx Co. (FDX) Receives Consensus Rating of “Buy” from Brokerages

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Shares of FedEx Co. (NYSE:FDX) have earned a consensus recommendation of “Buy” from the twenty-two ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $213.60.

FDX has been the subject of several recent research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $256.00 price objective on shares of FedEx in a research note on Tuesday, December 18th. Berenberg Bank reaffirmed a “buy” rating and issued a $245.00 price objective on shares of FedEx in a research note on Monday, January 7th. Robert W. Baird decreased their target price on shares of FedEx from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, December 19th. ValuEngine raised shares of FedEx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 26th. Finally, UBS Group decreased their target price on shares of FedEx from $234.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 10th.

In other FedEx news, CEO Frederick W. Smith sold 155,650 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the transaction, the chief executive officer now directly owns 14,945,124 shares in the company, valued at approximately $2,837,032,888.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total value of $525,330.00. The disclosure for this sale can be found here. Insiders have sold a total of 187,950 shares of company stock worth $35,170,622 over the last 90 days. Company insiders own 8.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of FDX. Creative Planning lifted its holdings in shares of FedEx by 16.0% in the 4th quarter. Creative Planning now owns 35,473 shares of the shipping service provider’s stock worth $5,723,000 after purchasing an additional 4,901 shares in the last quarter. Voit & Company LLC bought a new position in shares of FedEx in the 4th quarter worth $2,175,000. Tower Bridge Advisors lifted its holdings in shares of FedEx by 5.1% in the 4th quarter. Tower Bridge Advisors now owns 75,846 shares of the shipping service provider’s stock worth $12,236,000 after purchasing an additional 3,686 shares in the last quarter. Focused Investors LLC bought a new position in shares of FedEx in the 4th quarter worth $66,774,000. Finally, Sonora Investment Management LLC lifted its holdings in shares of FedEx by 26.1% in the 4th quarter. Sonora Investment Management LLC now owns 1,451 shares of the shipping service provider’s stock worth $234,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 71.73% of the company’s stock.

Shares of FedEx stock traded down $0.77 on Wednesday, hitting $196.18. The stock had a trading volume of 1,775,037 shares, compared to its average volume of 2,062,442. FedEx has a twelve month low of $150.94 and a twelve month high of $266.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40. The company has a market capitalization of $51.38 billion, a P/E ratio of 12.81, a P/E/G ratio of 0.97 and a beta of 1.62.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The firm had revenue of $17.01 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same period in the prior year, the company earned $3.72 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that FedEx will post 15.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is 16.98%.

About FedEx

FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.

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Analyst Recommendations for FedEx (NYSE:FDX)

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