FedEx Co. (NYSE:FDX) has earned a consensus recommendation of “Buy” from the thirty research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $160.83.
A number of analysts recently commented on FDX shares. Sanford C. Bernstein lifted their target price on shares of FedEx from $147.00 to $176.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 1st. Goldman Sachs Group lifted their price objective on shares of FedEx from $153.00 to $169.00 and gave the stock a “conviction-buy” rating in a research note on Wednesday, July 1st. Deutsche Bank upped their target price on FedEx from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. BofA Securities lifted their price target on FedEx from $160.00 to $177.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, UBS Group boosted their price target on FedEx from $158.00 to $181.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st.
In related news, EVP Robert B. Carter sold 21,480 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $157.53, for a total value of $3,383,744.40. Following the completion of the transaction, the executive vice president now owns 74,366 shares of the company’s stock, valued at approximately $11,714,875.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick W. Smith sold 155,750 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $117.71, for a total value of $18,333,332.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,550 shares of company stock valued at $24,818,258. Insiders own 8.44% of the company’s stock.
Several hedge funds have recently made changes to their positions in FDX. Retirement Network raised its position in shares of FedEx by 76.9% during the 1st quarter. Retirement Network now owns 207 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 90 shares during the last quarter. NewSquare Capital LLC increased its stake in FedEx by 215.4% during the 1st quarter. NewSquare Capital LLC now owns 205 shares of the shipping service provider’s stock worth $25,000 after buying an additional 140 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of FedEx during the first quarter valued at approximately $27,000. Selective Wealth Management Inc. purchased a new position in shares of FedEx in the second quarter valued at approximately $28,000. Finally, Balentine LLC purchased a new position in shares of FedEx in the first quarter valued at approximately $29,000. 73.89% of the stock is owned by institutional investors and hedge funds.
NYSE:FDX opened at $168.40 on Tuesday. The stock has a market capitalization of $44.11 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 1.40 and a beta of 1.32. FedEx has a 52 week low of $88.69 and a 52 week high of $176.25. The company has a quick ratio of 1.53, a current ratio of 1.58 and a debt-to-equity ratio of 1.87. The firm has a 50 day moving average of $151.03 and a 200 day moving average of $136.84.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $1.11. FedEx had a return on equity of 13.49% and a net margin of 1.86%. The business had revenue of $17.36 billion for the quarter, compared to the consensus estimate of $16.54 billion. During the same period in the prior year, the firm posted $5.01 earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, analysts expect that FedEx will post 10.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Monday, June 29th were issued a $0.65 dividend. The ex-dividend date was Friday, June 26th. This represents a $2.60 dividend on an annualized basis and a yield of 1.54%. FedEx’s payout ratio is 27.37%.
FedEx Company Profile
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.
Featured Article: What does an inverted yield curve signify?
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.