FedEx (NYSE:FDX) had its price target lifted by Argus from $245.00 to $290.00 in a research report report published on Tuesday, December 26th, MarketBeat reports. The brokerage currently has a buy rating on the shipping service provider’s stock.
A number of other research firms have also issued reports on FDX. Zacks Investment Research raised FedEx from a hold rating to a buy rating and set a $272.00 target price on the stock in a report on Thursday, December 21st. Stephens set a $306.00 target price on FedEx and gave the company a buy rating in a report on Wednesday, December 20th. BMO Capital Markets raised their price objective on FedEx from $265.00 to $270.00 and gave the stock an outperform rating in a research report on Wednesday, December 20th. Wells Fargo & Co set a $275.00 price objective on FedEx and gave the stock a buy rating in a research report on Wednesday, December 20th. Finally, Sanford C. Bernstein set a $236.00 price objective on FedEx and gave the stock a hold rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $269.95.
FedEx (NYSE FDX) opened at $271.85 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50. The firm has a market capitalization of $72,830.00, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.63 and a beta of 1.36. FedEx has a 52-week low of $182.89 and a 52-week high of $271.90.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.80 EPS. sell-side analysts anticipate that FedEx will post 13.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.74%. FedEx’s dividend payout ratio (DPR) is 18.38%.
In related news, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $266.05, for a total transaction of $802,406.80. Following the sale, the director now owns 16,040 shares in the company, valued at $4,267,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the sale, the chief operating officer now owns 48,562 shares in the company, valued at approximately $12,407,105.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,671 shares of company stock worth $17,137,160. Corporate insiders own 8.45% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. increased 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 worth $104,000 after buying an additional 13 shares during the last quarter. Krilogy Financial LLC increased 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 worth $111,000 after buying an additional 2 shares during the last quarter. Alexandria Capital LLC increased its position in FedEx by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after buying an additional 13 shares during the last quarter. Financial Engines Advisors L.L.C. acquired a new position in FedEx during the third quarter worth approximately $132,000. Finally, Massey Quick Simon & CO. LLC acquired a new position in FedEx during the third quarter worth approximately $136,000. Institutional investors and hedge funds 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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