FedEx Corp. (FDX) Downgraded by Vetr Inc.
Vetr lowered shares of FedEx Corp. (NYSE:FDX) from a buy rating to a hold rating in a research note issued to investors on Monday. The brokerage currently has $199.16 price target on the shipping service provider’s stock.
FDX has been the topic of a number of other reports. Citigroup Inc. reissued a buy rating on shares of FedEx Corp. in a research note on Thursday, September 22nd. Stifel Nicolaus boosted their price target on shares of FedEx Corp. from $179.00 to $186.00 and gave the company a buy rating in a research note on Wednesday, September 21st. Barclays PLC reissued a buy rating and issued a $205.00 price target on shares of FedEx Corp. in a research note on Monday, September 19th. Deutsche Bank AG assumed coverage on shares of FedEx Corp. in a research note on Wednesday, November 2nd. They issued a buy rating and a $210.00 price target on the stock. Finally, Zacks Investment Research raised shares of FedEx Corp. from a sell rating to a hold rating in a research note on Tuesday, September 13th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $179.22.
Shares of FedEx Corp. (NYSE:FDX) opened at 191.67 on Monday. The company’s 50-day moving average is $179.08 and its 200-day moving average is $167.26. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $192.58. The stock has a market cap of $50.94 billion, a PE ratio of 28.67 and a beta of 1.14.
FedEx Corp. (NYSE:FDX) last issued its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The company had revenue of $14.70 billion for the quarter. During the same period last year, the firm earned $2.42 earnings per share. FedEx Corp.’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts anticipate that FedEx Corp. will post $12.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 12th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $1.60 annualized dividend and a yield of 0.83%. FedEx Corp.’s dividend payout ratio (DPR) is 23.99%.
In related news, EVP Christine P. Richards sold 80,080 shares of the company’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $173.59, for a total value of $13,901,087.20. Following the completion of the sale, the executive vice president now owns 98,620 shares in the company, valued at approximately $17,119,445.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 24,784 shares of the company’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $176.95, for a total transaction of $4,385,528.80. Following the completion of the sale, the executive vice president now owns 68,183 shares of the company’s stock, valued at approximately $12,064,981.85. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Mcmillion Capital Management Inc. increased its stake in FedEx Corp. by 0.7% in the third quarter. Mcmillion Capital Management Inc. now owns 24,570 shares of the shipping service provider’s stock valued at $4,292,000 after buying an additional 165 shares during the period. HighPoint Advisor Group LLC increased its stake in FedEx Corp. by 10.9% in the third quarter. HighPoint Advisor Group LLC now owns 2,018 shares of the shipping service provider’s stock valued at $373,000 after buying an additional 199 shares during the period. D.A. Davidson & CO. increased its stake in FedEx Corp. by 11.3% in the third quarter. D.A. Davidson & CO. now owns 39,191 shares of the shipping service provider’s stock valued at $6,845,000 after buying an additional 3,992 shares during the period. Whalerock Point Partners LLC acquired a new stake in FedEx Corp. during the third quarter valued at approximately $266,000. Finally, Brinker Capital Inc. increased its stake in FedEx Corp. by 4.4% in the third quarter. Brinker Capital Inc. now owns 3,797 shares of the shipping service provider’s stock valued at $665,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.
FedEx Corp. 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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for FedEx Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corp. and related companies with MarketBeat.com's FREE daily email newsletter.