FedEx (NYSE:FDX) had its price target reduced by UBS Group from $234.00 to $200.00 in a research report sent to investors on Thursday, The Fly reports. They currently have an outperform rating on the shipping service provider’s stock.
FDX has been the subject of several other reports. Morgan Stanley set a $240.00 price target on FedEx and gave the company a hold rating in a research note on Monday, October 22nd. ValuEngine upgraded FedEx from a strong sell rating to a sell rating in a research note on Wednesday, December 26th. Zacks Investment Research downgraded FedEx from a hold rating to a sell rating in a research note on Monday, November 26th. Citigroup reduced their price target on FedEx from $304.00 to $275.00 and set a buy rating for the company in a research note on Friday, November 2nd. Finally, Credit Suisse Group set a $307.00 price target on FedEx and gave the company a buy rating in a research note on Tuesday, September 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $237.75.
Shares of NYSE FDX opened at $170.99 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. FedEx has a 12 month low of $150.94 and a 12 month high of $274.66. The company has a market cap of $44.53 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 0.84 and a beta of 1.63.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.02). The business had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $17.71 billion. FedEx had a return on equity of 24.11% and a net margin of 7.23%. During the same quarter in the prior year, the firm posted $3.18 earnings per share. On average, research analysts expect that FedEx will post 15.91 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th were given a dividend of $0.65 per share. The ex-dividend date was Friday, December 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.52%. FedEx’s payout ratio is 16.98%.
In related news, Director David P. Steiner bought 7,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was purchased at an average cost of $162.92 per share, for a total transaction of $1,140,440.00. Following the transaction, the director now owns 25,994 shares in the company, valued at approximately $4,234,942.48. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan Patricia Griffith bought 1,000 shares of the business’s stock in a transaction dated Wednesday, October 17th. The shares were bought at an average price of $225.16 per share, with a total value of $225,160.00. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in FDX. Vanguard Group Inc raised its holdings in shares of FedEx by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock worth $4,670,511,000 after buying an additional 96,084 shares in the last quarter. Dodge & Cox raised its holdings in shares of FedEx by 20.0% during the 3rd quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock worth $2,983,666,000 after buying an additional 2,065,853 shares in the last quarter. FMR LLC raised its holdings in shares of FedEx by 4.5% during the 2nd quarter. FMR LLC now owns 4,582,932 shares of the shipping service provider’s stock worth $1,040,600,000 after buying an additional 197,188 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in FedEx by 4.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,617,702 shares of the shipping service provider’s stock worth $871,106,000 after purchasing an additional 170,410 shares in the last quarter. Finally, Jackson Square Partners LLC increased its holdings in FedEx by 0.6% in the 3rd quarter. Jackson Square Partners LLC now owns 2,643,463 shares of the shipping service provider’s stock worth $636,519,000 after purchasing an additional 16,497 shares in the last quarter. Hedge funds and other institutional investors own 72.44% of the company’s stock.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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