FedEx Corp. (FDX) Given Buy Rating at Citigroup Inc.
Other equities research analysts also recently issued research reports about the company. Cowen and Company reiterated a buy rating and issued a $180.00 price objective on shares of FedEx Corp. in a report on Saturday, June 18th. Zacks Investment Research upgraded FedEx Corp. from a sell rating to a hold rating in a report on Thursday. Vetr upgraded FedEx Corp. from a buy rating to a strong-buy rating and set a $179.94 price objective for the company in a report on Tuesday, August 2nd. Robert W. Baird reiterated a buy rating and issued a $176.00 price objective on shares of FedEx Corp. in a report on Thursday, June 23rd. Finally, Stifel Nicolaus upped their price objective on FedEx Corp. from $179.00 to $186.00 and gave the company a buy rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $175.85.
Shares of FedEx Corp. (NYSE:FDX) opened at 173.66 on Thursday. The stock’s 50 day moving average price is $164.95 and its 200-day moving average price is $161.28. The stock has a market capitalization of $46.71 billion, a P/E ratio of 25.97 and a beta of 1.35. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $175.38.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.09. The business earned $14.70 billion during the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.42 EPS. Equities research analysts anticipate that FedEx Corp. will post $12.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. FedEx Corp.’s dividend payout ratio (DPR) is currently 23.99%.
In other news, CEO Michael L. Ducker sold 5,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $158.43, for a total transaction of $792,150.00. Following the transaction, the chief executive officer now owns 56,265 shares in the company, valued at $8,914,063.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alan B. Graf, Jr. sold 7,400 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $159.43, for a total value of $1,179,782.00. Following the transaction, the executive vice president now owns 150,665 shares in the company, valued at approximately $24,020,520.95. The disclosure for this sale can be found here. Insiders own 8.67% of the company’s stock.
Several institutional investors have recently made changes to their positions in FDX. First Personal Financial Services raised its position in shares of FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock worth $107,000 after buying an additional 111 shares during the period. Glassman Wealth Services increased its stake in shares of FedEx Corp. by 200.6% in the second quarter. Glassman Wealth Services now owns 974 shares of the shipping service provider’s stock worth $148,000 after buying an additional 650 shares in the last quarter. Invictus RG bought a new stake in shares of FedEx Corp. during the first quarter worth about $161,000. Beese Fulmer Investment Management Inc. increased its stake in shares of FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock worth $200,000 after buying an additional 32 shares in the last quarter. Finally, HBK Sorce Advisory LLC bought a new stake in shares of FedEx Corp. during the second quarter worth about $202,000. Institutional investors own 73.78% of the company’s stock.
About FedEx Corp.
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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