FedEx (NYSE:FDX) Rating Increased to Strong-Buy at Stephens
by Renee Jackson · The Cerbat GemStephens upgraded shares of FedEx (NYSE:FDX – Free Report) to a strong-buy rating in a report published on Wednesday,Zacks.com reports.
Several other analysts also recently commented on the company. Morgan Stanley upped their price objective on FedEx from $220.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, March 20th. TD Cowen lowered their target price on FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Barclays dropped their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. BMO Capital Markets restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 24th. Finally, Sanford C. Bernstein set a $397.00 price objective on shares of FedEx in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $349.60.
Check Out Our Latest Analysis on FDX
FedEx Trading Down 0.9%
Shares of FedEx stock opened at $310.13 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The company has a market capitalization of $74.00 billion, a P/E ratio of 16.75 and a beta of 1.29. FedEx has a 1 year low of $172.88 and a 1 year high of $345.36. The company’s fifty day moving average is $351.69 and its two-hundred day moving average is $348.63.
FedEx (NYSE:FDX – Get Free Report) last announced its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $25.01 billion during the quarter, compared to analysts’ expectations of $24.04 billion. During the same period in the prior year, the company earned $6.07 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.
FedEx Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx’s payout ratio is 26.36%.
Insider Activity
In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. The trade was a 36.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kawal Preet sold 4,900 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president directly owned 10,953 shares in the company, valued at $4,029,499.17. This trade represents a 30.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,146 shares of company stock valued at $19,235,438 in the last 90 days. Insiders own 0.53% of the company’s stock.
Hedge Funds Weigh In On FedEx
Several hedge funds have recently bought and sold shares of the stock. Ferguson Wellman Capital Management Inc. boosted its stake in shares of FedEx by 3.2% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock worth $296,000 after purchasing an additional 26 shares during the last quarter. OneAscent Financial Services LLC raised its holdings in FedEx by 1.7% in the 4th quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock valued at $491,000 after acquiring an additional 29 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in shares of FedEx by 9.9% during the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after purchasing an additional 30 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of FedEx by 11.9% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock worth $101,000 after purchasing an additional 30 shares during the period. Finally, Arete Wealth Advisors LLC boosted its holdings in shares of FedEx by 1.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.
About FedEx
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
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