FedEx Corporation (NYSE:FDX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

FedEx Corporation (NYSE:FDX) has been given an average rating of “Moderate Buy” by the thirty brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $350.5426.

FDX has been the subject of several recent research reports. The Goldman Sachs Group cut their target price on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. BMO Capital Markets reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Sanford C. Bernstein set a $397.00 target price on FedEx in a report on Wednesday, June 24th. Stephens raised FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Jefferies Financial Group began coverage on FedEx in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price target for the company.

FedEx Trading Down 1.6%

Shares of FDX opened at $315.93 on Friday. The firm has a market cap of $74.74 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.65 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. FedEx has a fifty-two week low of $172.88 and a fifty-two week high of $345.36. The firm has a 50 day moving average price of $337.21 and a 200-day moving average price of $350.30.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $22.19 billion during the quarter. As a group, equities research analysts forecast that FedEx will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio is currently 26.36%.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Trading of FedEx

Institutional investors and hedge funds have recently modified their holdings of the company. Hudson Value Partners LLC lifted its stake in shares of FedEx by 32.7% during the 2nd quarter. Hudson Value Partners LLC now owns 5,776 shares of the shipping service provider’s stock valued at $1,809,000 after buying an additional 1,422 shares in the last quarter. Tema ETFs LLC increased its stake in FedEx by 9.2% in the 2nd quarter. Tema ETFs LLC now owns 3,448 shares of the shipping service provider’s stock worth $1,080,000 after buying an additional 290 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in FedEx by 4.1% during the second quarter. E. Ohman J or Asset Management AB now owns 7,655 shares of the shipping service provider’s stock valued at $2,397,000 after acquiring an additional 300 shares during the period. Handelsbanken Fonder AB raised its holdings in FedEx by 9.3% during the second quarter. Handelsbanken Fonder AB now owns 115,179 shares of the shipping service provider’s stock valued at $36,066,000 after acquiring an additional 9,783 shares during the period. Finally, BFI Infinity Ltd. lifted its position in shares of FedEx by 3.9% in the second quarter. BFI Infinity Ltd. now owns 10,988 shares of the shipping service provider’s stock valued at $3,441,000 after acquiring an additional 409 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.