Loop Capital Upgrades FedEx (NYSE:FDX) to "Buy"

Loop Capital upgraded shares of FedEx (NYSE:FDX - Free Report) from a hold rating to a buy rating in a report issued on Friday, MarketBeat.com reports. They currently have $365.00 price target on the shipping service provider's stock, up from their prior price target of $288.00.

FDX has been the topic of several other reports. StockNews.com lowered FedEx from a "buy" rating to a "hold" rating in a research note on Tuesday, December 3rd. Hsbc Global Res lowered FedEx from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 20th. Daiwa America lowered FedEx from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, September 11th. UBS Group lowered their price objective on FedEx from $333.00 to $311.00 and set a "buy" rating for the company in a research note on Friday, September 20th. Finally, Citigroup lifted their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and an average target price of $325.24.

FedEx Price Performance

NYSE FDX traded down $0.15 during midday trading on Friday, hitting $275.73. The company had a trading volume of 8,092,276 shares, compared to its average volume of 1,820,057. The company has a market capitalization of $67.37 billion, a PE ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $282.48 and a 200-day moving average price of $281.66.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $22 billion during the quarter, compared to analysts' expectations of $22.14 billion. During the same quarter in the prior year, the business posted $3.99 earnings per share. FedEx's revenue was down .7% compared to the same quarter last year. As a group, analysts anticipate that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx's dividend payout ratio is presently 34.05%.

Institutional Investors Weigh In On FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. LRI Investments LLC grew its stake in shares of FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider's stock valued at $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC raised its stake in FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider's stock worth $2,306,000 after buying an additional 36 shares during the period. Detalus Advisors LLC boosted its holdings in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider's stock worth $480,000 after acquiring an additional 37 shares in the last quarter. Sachetta LLC grew its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock valued at $49,000 after acquiring an additional 37 shares during the period. Finally, IVC Wealth Advisors LLC increased its holdings in shares of FedEx by 2.0% during the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider's stock valued at $533,000 after acquiring an additional 38 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

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.