FedEx Co. (FDX) Earns “Top Pick” Rating from Barclays PLC
FedEx Co. (NYSE:FDX)‘s stock had its “top pick” rating restated by research analysts at Barclays PLC in a research report issued on Wednesday.
A number of other analysts have also issued reports on the company. Wolfe Research raised FedEx from a “market perform” rating to an “outperform” rating in a research report on Friday, July 1st. Cowen and Company reissued a “market perform” rating and issued a $110.00 target price on shares of FedEx in a research report on Sunday, July 31st. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 23rd. Vetr downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating and set a $179.94 price target for the company. in a research note on Monday, August 8th. Finally, Bank of America Corp. restated a “buy” rating on shares of FedEx in a research note on Thursday, June 16th. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $175.85.
Shares of FedEx (NYSE:FDX) traded up 6.05% during mid-day trading on Wednesday, reaching $172.49. The company’s stock had a trading volume of 3,784,608 shares. The stock has a market cap of $45.80 billion, a P/E ratio of 26.50 and a beta of 1.35. FedEx has a one year low of $119.71 and a one year high of $173.40. The stock has a 50 day moving average of $164.16 and a 200-day moving average of $161.10.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.09. The company had revenue of $14.70 billion for the quarter. FedEx had a return on equity of 20.62% and a net margin of 3.61%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.42 EPS. On average, equities research analysts expect that FedEx will post $11.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued a $0.40 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.98%. FedEx’s dividend payout ratio (DPR) is presently 24.84%.
In other FedEx news, CEO Michael L. Ducker sold 5,000 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $158.43, for a total value of $792,150.00. Following the completion of the transaction, the chief executive officer now directly owns 56,265 shares of the company’s stock, valued at $8,914,063.95. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John A. Edwardson sold 2,882 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $162.63, for a total transaction of $468,699.66. Following the completion of the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at $4,730,906.70. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FDX. Pioneer Investment Management Inc. boosted its position in shares of FedEx by 30.6% in the fourth quarter. Pioneer Investment Management Inc. now owns 50,885 shares of the shipping service provider’s stock worth $7,581,000 after buying an additional 11,915 shares during the period. Acadian Asset Management LLC raised its stake in FedEx by 89.4% in the first quarter. Acadian Asset Management LLC now owns 3,266 shares of the shipping service provider’s stock valued at $531,000 after buying an additional 1,542 shares in the last quarter. CrestPoint Capital Management LLC acquired a new stake in FedEx during the first quarter valued at approximately $1,790,000. Wagner Bowman Management Corp raised its stake in FedEx by 20.3% in the first quarter. Wagner Bowman Management Corp now owns 6,667 shares of the shipping service provider’s stock valued at $1,084,000 after buying an additional 1,125 shares in the last quarter. Finally, McQueen Ball & Associates Inc. acquired a new stake in FedEx during the first quarter valued at approximately $556,000. 73.78% of the stock is owned by institutional investors.
FedEx 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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