FedEx Corporation (FDX) Sets New 52-Week High at $220.06
Shares of FedEx Corporation (NYSE:FDX) hit a new 52-week high during trading on Wednesday . The stock traded as high as $220.06 and last traded at $220.79, with a volume of 3,850,178 shares. The stock had previously closed at $216.00.
FDX has been the subject of several analyst reports. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Tuesday, May 23rd. Vetr downgraded FedEx Corporation from a “hold” rating to a “sell” rating and set a $190.34 price objective for the company. in a research note on Thursday, June 1st. ValuEngine raised FedEx Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Seaport Global Securities started coverage on FedEx Corporation in a research report on Tuesday, June 6th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus increased their price target on FedEx Corporation from $194.00 to $216.00 and gave the company a “hold” rating in a research report on Monday, June 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company. FedEx Corporation has an average rating of “Buy” and a consensus target price of $224.81.
The company has a 50-day moving average price of $210.17 and a 200-day moving average price of $202.36. The company has a market capitalization of $59.15 billion, a PE ratio of 19.92 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $2.90 earnings per share. On average, equities research analysts anticipate that FedEx Corporation will post $13.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. FedEx Corporation’s dividend payout ratio (DPR) is 18.08%.
In other FedEx Corporation news, Director Kim Jabal sold 5,918 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $216.05, for a total value of $1,278,583.90. Following the completion of the sale, the director now owns 3,610 shares in the company, valued at approximately $779,940.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Carter sold 24,522 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $210.96, for a total value of $5,173,161.12. Following the completion of the sale, the executive vice president now owns 68,556 shares of the company’s stock, valued at approximately $14,462,573.76. The disclosure for this sale can be found here. Insiders sold a total of 77,757 shares of company stock valued at $16,447,426 over the last 90 days. 8.45% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in FedEx Corporation by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after buying an additional 492,840 shares in the last quarter. BlackRock Inc. increased its stake in FedEx Corporation by 1,912.1% in the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after buying an additional 14,086,601 shares in the last quarter. FMR LLC increased its stake in FedEx Corporation by 0.3% in the 2nd quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after buying an additional 15,382 shares in the last quarter. Ameriprise Financial Inc. increased its stake in FedEx Corporation by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,659,103 shares of the shipping service provider’s stock worth $795,260,000 after buying an additional 13,383 shares in the last quarter. Finally, Capital World Investors increased its stake in FedEx Corporation by 16.1% in the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after buying an additional 501,617 shares in the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.
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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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