FedEx (NYSE:FDX) Raised to Buy at Standpoint Research
Standpoint Research upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a report released on Thursday morning, The Fly reports.
Other equities analysts have also recently issued reports about the stock. Barclays reaffirmed a buy rating and issued a $185.00 price objective on shares of FedEx in a research note on Thursday, June 13th. Bank of America reduced their price objective on shares of FedEx from $188.00 to $173.00 and set a neutral rating on the stock in a research note on Friday, May 31st. Citigroup reduced their price objective on shares of FedEx from $192.00 to $180.00 and set a buy rating on the stock in a research note on Wednesday, June 26th. Zacks Investment Research cut shares of FedEx from a hold rating to a sell rating and set a $161.00 price objective on the stock. in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of FedEx from $168.00 to $146.00 and set a neutral rating on the stock in a research note on Wednesday, September 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. FedEx has a consensus rating of Hold and an average price target of $175.56.
FDX opened at $148.78 on Thursday. FedEx has a one year low of $147.82 and a one year high of $250.95. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.39. The company’s 50 day simple moving average is $160.17 and its 200-day simple moving average is $170.42. The stock has a market capitalization of $39.78 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.69.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.75%. FedEx’s dividend payout ratio is 16.75%.
In related news, Director Paul S. Walsh sold 4,440 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total transaction of $718,747.20. Following the sale, the director now directly owns 16,440 shares in the company, valued at $2,661,307.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert B. Carter sold 23,100 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the sale, the executive vice president now owns 68,446 shares in the company, valued at $12,031,437.88. The disclosure for this sale can be found here. Company insiders own 8.44% of the company’s stock.
Large investors have recently modified their holdings of the stock. Sageworth Trust Co acquired a new stake in shares of FedEx during the second quarter worth $25,000. Evolution Wealth Advisors LLC acquired a new stake in FedEx in the 1st quarter valued at $31,000. Nelson Roberts Investment Advisors LLC acquired a new stake in FedEx in the 2nd quarter valued at $34,000. Icon Wealth Partners LLC acquired a new stake in FedEx in the 1st quarter valued at $38,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in FedEx in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 71.34% of the company’s stock.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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