Stephens set a $306.00 price objective on FedEx (NYSE:FDX) in a research note released on Wednesday, December 20th. The firm currently has a buy rating on the shipping service provider’s stock.
Several other equities analysts have also recently issued reports on the company. Wells Fargo & Co boosted their price objective on FedEx from $235.00 to $240.00 and gave the company an outperform rating in a report on Thursday, September 21st. Stifel Nicolaus reissued a hold rating and issued a $221.00 price objective (up previously from $216.00) on shares of FedEx in a report on Wednesday, September 20th. Loop Capital reissued 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. Citigroup boosted their price objective on FedEx to $275.00 and gave the company a buy rating in a report on Tuesday, December 12th. Finally, UBS Group cut FedEx from a buy rating to a neutral rating and reduced their price target for the stock from $235.00 to $233.00 in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. FedEx has a consensus rating of Buy and a consensus target price of $269.04.
Shares of FedEx (FDX) traded up $3.18 during trading hours on Wednesday, hitting $271.19. The stock had a trading volume of 1,648,200 shares, compared to its average volume of 1,960,000. FedEx has a twelve month low of $182.89 and a twelve month high of $271.39. The stock has a market cap of $72,650.00, a P/E ratio of 24.93, a PEG ratio of 1.60 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.80 EPS. sell-side analysts forecast that FedEx will post 13.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, December 8th. This represents a $2.00 annualized dividend and a yield of 0.74%. FedEx’s dividend payout ratio (DPR) is currently 18.38%.
In other news, EVP Robert B. Carter sold 3,970 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the sale, the executive vice president now directly owns 187,025 shares in the company, valued at $46,892,778.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 6,080 shares of the company’s stock, valued at $1,371,344. The disclosure for this sale can be found here. Insiders sold 68,671 shares of company stock valued at $17,137,160 over the last 90 days. Company insiders own 8.45% of the company’s stock.
A number of institutional investors have recently modified their holdings of FDX. Investment Centers of America Inc. grew its position in FedEx by 22.0% in the first quarter. Investment Centers of America Inc. now owns 3,215 shares of the shipping service provider’s stock worth $629,000 after acquiring an additional 579 shares during the period. AQR Capital Management LLC grew its position in FedEx by 7.1% in the first quarter. AQR Capital Management LLC now owns 326,414 shares of the shipping service provider’s stock worth $63,700,000 after acquiring an additional 21,641 shares during the period. Sterneck Capital Management LLC purchased a new position in FedEx in the first quarter worth approximately $210,000. National Asset Management Inc. grew its position in FedEx by 16.0% in the first quarter. National Asset Management Inc. now owns 1,652 shares of the shipping service provider’s stock worth $323,000 after acquiring an additional 228 shares during the period. Finally, Paloma Partners Management Co grew its position in FedEx by 1,102.7% in the first quarter. Paloma Partners Management Co now owns 39,654 shares of the shipping service provider’s stock worth $7,738,000 after acquiring an additional 36,357 shares during the period. Institutional investors own 75.66% of the company’s stock.
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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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