FedEx Co. (NYSE:FDX) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

FedEx Co. (NYSE:FDX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the thirty ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $302.71.

Several brokerages have commented on FDX. StockNews.com raised FedEx from a "hold" rating to a "buy" rating in a report on Friday, December 20th. UBS Group cut their price objective on shares of FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Piper Sandler lowered shares of FedEx to a "neutral" rating in a report on Monday, February 3rd. TD Cowen lowered their target price on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Finally, Stifel Nicolaus reduced their price target on shares of FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a research report on Friday, March 21st.

Insider Transactions at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares of the company's stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company's stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,711 shares of company stock worth $3,312,693. Company insiders own 8.87% of the company's stock.

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Hedge Funds Weigh In On FedEx

A number of hedge funds have recently modified their holdings of FDX. United Bank bought a new position in FedEx during the 3rd quarter valued at approximately $615,000. Townsquare Capital LLC raised its holdings in shares of FedEx by 19.5% during the third quarter. Townsquare Capital LLC now owns 1,764 shares of the shipping service provider's stock valued at $483,000 after acquiring an additional 288 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of FedEx by 117.0% during the third quarter. Rockefeller Capital Management L.P. now owns 77,974 shares of the shipping service provider's stock valued at $21,343,000 after acquiring an additional 42,034 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in FedEx by 86.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 298,571 shares of the shipping service provider's stock valued at $81,713,000 after acquiring an additional 138,856 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in FedEx during the 3rd quarter valued at $7,177,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

Shares of NYSE FDX traded down $29.65 during midday trading on Monday, hitting $215.52. The company's stock had a trading volume of 5,065,098 shares, compared to its average volume of 1,746,994. The stock has a fifty day moving average price of $253.71 and a 200 day moving average price of $269.72. The firm has a market capitalization of $51.64 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx has a one year low of $213.67 and a one year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the prior year, the company earned $3.86 EPS. The company's revenue was up 1.9% on a year-over-year basis. On average, research analysts forecast that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.56%. FedEx's dividend payout ratio (DPR) is currently 34.63%.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.