StockNews.com upgraded shares of FedEx (NYSE:FDX - Free Report) from a hold rating to a buy rating in a report released on Wednesday morning.
A number of other research firms also recently weighed in on FDX. Susquehanna dropped their target price on FedEx from $345.00 to $330.00 and set a "positive" rating for the company in a research report on Friday, September 20th. Loop Capital lowered their price objective on FedEx from $317.00 to $288.00 and set a "hold" rating for the company in a research report on Monday, September 23rd. The Goldman Sachs Group cut their target price on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. TD Cowen dropped their price target on shares of FedEx from $334.00 to $328.00 and set a "buy" rating for the company in a research note on Friday, September 20th. Finally, Evercore ISI reduced their price objective on shares of FedEx from $335.00 to $318.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $316.04.
View Our Latest Analysis on FDX
FedEx Price Performance
Shares of NYSE:FDX traded up $4.81 during midday trading on Wednesday, reaching $292.08. The company's stock had a trading volume of 1,896,851 shares, compared to its average volume of 1,809,805. The business's fifty day simple moving average is $275.05 and its 200-day simple moving average is $275.84. The company has a market capitalization of $71.36 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.15 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.
FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts' consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the firm posted $4.55 earnings per share. The company's revenue was down .5% on a year-over-year basis. As a group, equities research analysts expect that FedEx will post 19.59 EPS for the current fiscal year.
FedEx Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Monday, September 9th. FedEx's payout ratio is presently 34.05%.
Institutional Trading of FedEx
A number of institutional investors have recently modified their holdings of FDX. Capital International Investors lifted its stake in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider's stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. boosted its holdings in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider's stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. International Assets Investment Management LLC grew its position in FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock valued at $2,147,540,000 after purchasing an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. increased its stake in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider's stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in FedEx by 77.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider's stock worth $101,022,000 after buying an additional 161,022 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.
About FedEx
(
Get Free Report)
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.
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