FedEx (NYSE:FDX) had its target price raised by Credit Suisse Group from $306.00 to $315.00 in a report issued on Wednesday morning. Credit Suisse Group currently has an outperform rating on the shipping service provider’s stock.
FDX has been the topic of a number of other research reports. Zacks Investment Research raised shares of FedEx from a hold rating to a buy rating and set a $282.00 price objective on the stock in a report on Wednesday, May 30th. Sanford C. Bernstein raised shares of FedEx from a market perform rating to an outperform rating and set a $290.00 price objective on the stock in a report on Friday, February 23rd. Oppenheimer raised their price objective on shares of FedEx from $265.00 to $274.00 and gave the stock an outperform rating in a report on Friday, March 16th. Morgan Stanley dropped their price objective on shares of FedEx from $250.00 to $240.00 and set an equal weight rating on the stock in a report on Wednesday, March 21st. Finally, Citigroup raised their price objective on shares of FedEx from $274.00 to $282.00 and gave the stock an outperform rating in a report on Wednesday, May 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $285.94.
Shares of FedEx opened at $241.77 on Wednesday, according to MarketBeat.com. The company has a current ratio of 1.39, a quick ratio of 1.37 and a debt-to-equity ratio of 0.79. The stock has a market cap of $67.36 billion, a PE ratio of 15.79, a P/E/G ratio of 1.14 and a beta of 1.38. FedEx has a 52-week low of $203.13 and a 52-week high of $274.66.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 19th. The shipping service provider reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.19. The firm had revenue of $17.31 billion for the quarter, compared to the consensus estimate of $17.24 billion. FedEx had a net margin of 6.99% and a return on equity of 23.17%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.25 EPS. equities research analysts forecast that FedEx will post 17.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 9th. Shareholders of record on Monday, June 25th will be paid a dividend of $0.65 per share. This is a boost from FedEx’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 1.08%. FedEx’s dividend payout ratio (DPR) is presently 13.06%.
In other news, CEO Frederick W. Smith sold 124,000 shares of FedEx stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $255.99, for a total transaction of $31,742,760.00. Following the sale, the chief executive officer now owns 14,864,465 shares in the company, valued at $3,805,154,395.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul S. Walsh sold 4,400 shares of FedEx stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $255.00, for a total transaction of $1,122,000.00. Following the sale, the director now owns 14,400 shares in the company, valued at approximately $3,672,000. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $19,047,000. J. Goldman & Co LP raised its position in shares of FedEx by 209.6% during the fourth quarter. J. Goldman & Co LP now owns 68,492 shares of the shipping service provider’s stock valued at $17,091,000 after buying an additional 130,992 shares during the last quarter. Elkfork Partners LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $1,070,000. Bain Capital Public Equity Management LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $6,285,000. Finally, Stratos Wealth Partners LTD. raised its position in shares of FedEx by 7.8% during the first quarter. Stratos Wealth Partners LTD. now owns 24,109 shares of the shipping service provider’s stock valued at $5,789,000 after buying an additional 1,739 shares during the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.
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