FedEx (NYSE:FDX) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of FedEx (NYSE:FDXGet Rating) from a strong-buy rating to a buy rating in a report published on Tuesday.

Several other research analysts have also commented on FDX. Deutsche Bank Aktiengesellschaft cut their price target on FedEx from $310.00 to $298.00 and set a buy rating on the stock in a research report on Monday, March 21st. Berenberg Bank set a $330.00 price target on FedEx in a research report on Friday, May 27th. Robert W. Baird reaffirmed an outperform rating and set a $300.00 price target on shares of FedEx in a research report on Monday, March 21st. Citigroup cut their price target on FedEx from $300.00 to $270.00 and set a buy rating on the stock in a research report on Friday, March 18th. Finally, The Goldman Sachs Group dropped their target price on FedEx from $331.00 to $291.00 and set a buy rating on the stock in a report on Tuesday, June 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $298.30.

FDX opened at $228.13 on Tuesday. The firm has a market cap of $59.13 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 0.85 and a beta of 1.31. FedEx has a 52 week low of $192.82 and a 52 week high of $304.59. The business’s 50 day moving average is $212.43 and its two-hundred day moving average is $227.11. The company has a quick ratio of 1.35, a current ratio of 1.39 and a debt-to-equity ratio of 0.83.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Monday, June 27th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $0.75. FedEx’s dividend payout ratio is currently 15.75%.

In related news, Director Paul S. Walsh sold 3,720 shares of the company’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $206.42, for a total transaction of $767,882.40. Following the transaction, the director now owns 14,000 shares of the company’s stock, valued at $2,889,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.16% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in FedEx during the fourth quarter worth $26,000. Holloway Wealth Management LLC purchased a new stake in FedEx during the first quarter worth $29,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in FedEx during the fourth quarter worth $33,000. Level Financial Advisors Inc. purchased a new stake in FedEx during the fourth quarter worth $34,000. Finally, Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of FedEx in the first quarter valued at $35,000. Institutional investors own 79.92% of the company’s stock.

FedEx Company Profile (Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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