FedEx Corporation (FDX) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of FedEx Corporation (NYSE:FDX) have earned an average recommendation of “Buy” from the twenty-nine research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and twenty-two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $229.36.
A number of analysts have commented on the stock. Stifel Nicolaus reiterated a “neutral” rating on shares of FedEx Corporation in a research note on Wednesday, August 16th. Wells Fargo & Company raised their price target on shares of FedEx Corporation from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Loop Capital reaffirmed a “buy” rating and set a $234.00 price target on shares of FedEx Corporation in a research report on Tuesday, July 4th. Cowen and Company reaffirmed a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research report on Thursday, August 10th. Finally, UBS AG downgraded shares of FedEx Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $235.00 to $233.00 in a research note on Friday, September 15th.
In related news, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the sale, the insider now owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,114 shares of company stock valued at $8,126,948. Insiders own 8.45% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in FedEx Corporation by 2.7% in the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after purchasing an additional 492,840 shares in the last quarter. BlackRock Inc. raised its holdings in FedEx Corporation by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after purchasing an additional 14,086,601 shares in the last quarter. FMR LLC raised its holdings in FedEx Corporation by 0.3% in the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after purchasing an additional 15,382 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in FedEx Corporation by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 3,659,103 shares of the shipping service provider’s stock worth $795,260,000 after purchasing an additional 13,383 shares in the last quarter. Finally, Capital World Investors raised its holdings in FedEx Corporation by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after purchasing an additional 501,617 shares in the last quarter. 76.16% of the stock is owned by institutional investors.
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FedEx Corporation (FDX) opened at 225.81 on Wednesday. The company has a market cap of $60.55 billion, a P/E ratio of 21.29 and a beta of 1.31. FedEx Corporation has a 12-month low of $171.60 and a 12-month high of $231.35. The stock’s 50 day moving average is $221.84 and its 200-day moving average is $208.92.
FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The business had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. During the same quarter in the previous year, the company posted $2.90 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts predict that FedEx Corporation will post $12.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, September 8th. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.87%.
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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