FedEx (FDX) Given Buy Rating at Bank of America
Several other brokerages have also weighed in on FDX. Citigroup restated a buy rating and issued a $235.00 price objective on shares of FedEx in a report on Thursday, September 14th. UBS Group lowered FedEx from a buy rating to a neutral rating and cut their price objective for the company from $235.00 to $233.00 in a report on Friday, September 15th. Credit Suisse Group restated an outperform rating and issued a $233.00 price objective (down previously from $242.00) on shares of FedEx in a report on Friday, September 15th. Loop Capital restated a buy rating and issued a $260.00 price objective (up previously from $250.00) on shares of FedEx in a report on Wednesday, September 20th. Finally, Sanford C. Bernstein set a $212.00 price objective on FedEx and gave the company a neutral rating in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $269.95.
Shares of FedEx (NYSE FDX) traded up $0.66 during mid-day trading on Friday, reaching $271.85. The company’s stock had a trading volume of 1,342,800 shares, compared to its average volume of 2,035,367. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. FedEx has a one year low of $182.89 and a one year high of $271.90. The firm has a market cap of $72,680.00, a price-to-earnings ratio of 24.99, a PEG ratio of 1.62 and a beta of 1.36.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The company had revenue of $16.30 billion during the quarter, compared to analyst estimates of $15.67 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. analysts predict that FedEx will post 13.13 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, December 8th. FedEx’s dividend payout ratio is 18.38%.
In other news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the sale, the insider now directly owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the sale, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,671 shares of company stock valued at $17,137,160. 8.45% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Krilogy Financial LLC raised its position in FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the period. Salem Investment Counselors Inc. raised its position in FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after buying an additional 13 shares during the period. RNC Capital Management LLC raised its position in FedEx by 0.8% during the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock valued at $434,000 after buying an additional 15 shares during the period. High Falls Advisors Inc raised its position in FedEx by 2.1% during the second quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock valued at $244,000 after buying an additional 23 shares during the period. Finally, Wetherby Asset Management Inc. raised its position in FedEx by 0.8% during the second quarter. Wetherby Asset Management Inc. now owns 4,694 shares of the shipping service provider’s stock valued at $1,020,000 after buying an additional 37 shares during the period. 75.69% of the stock is owned by institutional investors and hedge funds.
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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