FedEx (NYSE:FDX) had its price target boosted by Robert W. Baird from $270.00 to $280.00 in a research report sent to investors on Thursday. They currently have an outperform rating on the shipping service provider’s stock.
Other analysts also recently issued research reports about the stock. Citigroup boosted their target price on shares of FedEx to $275.00 and gave the stock a buy rating in a research report on Tuesday, December 12th. Barclays reissued an overweight rating and set a $270.00 target price (up previously from $230.00) on shares of FedEx in a research report on Thursday, November 30th. They noted that the move was a valuation call. Stifel Nicolaus boosted their target price on shares of FedEx from $221.00 to $272.00 and gave the stock a hold rating in a research report on Wednesday, December 20th. Zacks Investment Research raised shares of FedEx from a sell rating to a hold rating in a research report on Tuesday, December 12th. Finally, Sanford C. Bernstein set a $212.00 target price on shares of FedEx and gave the stock a hold rating in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. FedEx has a consensus rating of Buy and an average price target of $275.47.
FedEx (NYSE:FDX) traded up $5.28 during trading hours on Thursday, reaching $252.68. 530,763 shares of the company’s stock traded hands, compared to its average volume of 1,796,814. The stock has a market cap of $66,144.62, a P/E ratio of 23.29, a PEG ratio of 1.44 and a beta of 1.32. FedEx has a 12 month low of $182.89 and a 12 month high of $274.66. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.29. The company had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. FedEx’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.80 EPS. research analysts anticipate that FedEx will post 13.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, March 9th. FedEx’s dividend payout ratio is currently 18.43%.
In related news, COO David J. Bronczek sold 46,555 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the completion of the transaction, the chief operating officer now directly owns 48,562 shares in the company, valued at approximately $12,407,105.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David P. Steiner sold 3,016 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $266.05, for a total transaction of $802,406.80. Following the completion of the transaction, the director now owns 16,040 shares of the company’s stock, valued at $4,267,442. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,541 shares of company stock valued at $13,692,142. Company insiders own 8.45% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of FDX. Ameriprise Financial Inc. raised its position in FedEx by 7.3% during the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after acquiring an additional 266,660 shares during the period. Jennison Associates LLC raised its position in FedEx by 47.4% during the fourth quarter. Jennison Associates LLC now owns 3,687,689 shares of the shipping service provider’s stock worth $920,226,000 after acquiring an additional 1,185,447 shares during the period. Canada Pension Plan Investment Board raised its position in FedEx by 3.3% during the third quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock worth $814,875,000 after acquiring an additional 116,500 shares during the period. TIAA CREF Investment Management LLC raised its position in FedEx by 5.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 2,395,924 shares of the shipping service provider’s stock worth $597,879,000 after acquiring an additional 126,993 shares during the period. Finally, Geode Capital Management LLC raised its position in FedEx by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,392,806 shares of the shipping service provider’s stock worth $595,716,000 after acquiring an additional 73,830 shares during the period. Hedge funds and other institutional investors own 74.65% 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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