FedEx Co. (NYSE:FDX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of FedEx Co. (NYSE:FDX) have been given an average rating of “Moderate Buy” by the twenty-six brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eighteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $301.07.

Several research firms have weighed in on FDX. Jefferies Financial Group raised their price target on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. UBS Group increased their price objective on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays increased their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, Bank Of America (Bofa) increased their price objective on FedEx from $330.00 to $334.00 in a research report on Wednesday, December 20th.

FedEx Stock Down 0.4 %

FDX stock opened at $287.88 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The company has a market capitalization of $70.84 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.34 and a beta of 1.20. FedEx has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The stock has a fifty day moving average of $248.74 and a 200-day moving average of $252.07.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.41 EPS. As a group, equities research analysts predict that FedEx will post 17.61 earnings per share for the current year.

FedEx announced that its board has initiated a stock buyback plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be issued a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, March 8th. FedEx’s payout ratio is currently 29.07%.

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. 8.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Camarda Financial Advisors LLC grew its stake in shares of FedEx by 0.6% during the second quarter. Camarda Financial Advisors LLC now owns 6,419 shares of the shipping service provider’s stock valued at $1,591,000 after buying an additional 40 shares during the last quarter. M&R Capital Management Inc. grew its stake in FedEx by 0.3% in the third quarter. M&R Capital Management Inc. now owns 16,192 shares of the shipping service provider’s stock worth $4,289,000 after purchasing an additional 41 shares in the last quarter. KRS Capital Management LLC boosted its position in FedEx by 4.1% during the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after acquiring an additional 41 shares in the last quarter. Zullo Investment Group Inc. boosted its position in FedEx by 0.7% during the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after acquiring an additional 42 shares in the last quarter. Finally, Toth Financial Advisory Corp boosted its position in FedEx by 18.0% during the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.