FedEx (NYSE:FDX) Upgraded by Jefferies Financial Group to Buy Rating

Jefferies Financial Group upgraded shares of FedEx (NYSE:FDX - Free Report) from a hold rating to a buy rating in a report released on Monday, MarketBeat reports. They currently have $275.00 target price on the shipping service provider's stock, down from their prior target price of $300.00.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets lowered their target price on FedEx from $330.00 to $275.00 and set a "market perform" rating on the stock in a report on Friday. Wells Fargo & Company decreased their price objective on FedEx from $275.00 to $260.00 and set an "equal weight" rating on the stock in a research note on Friday. Stephens dropped their price objective on FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 target price on the stock. Finally, Truist Financial initiated coverage on shares of FedEx in a report on Thursday, March 13th. They set a "buy" rating and a $305.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, FedEx presently has an average rating of "Moderate Buy" and an average target price of $300.60.

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FedEx Price Performance

FedEx stock traded down $1.13 during trading hours on Monday, hitting $241.19. The stock had a trading volume of 2,668,902 shares, compared to its average volume of 1,686,039. The stock has a market capitalization of $58.09 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx has a 1-year low of $217.22 and a 1-year high of $313.84. The stock's fifty day moving average is $258.58 and its two-hundred day moving average is $271.75.

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 for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter last year, the business posted $3.86 earnings per share. The business's revenue was up 1.9% compared to the same quarter last year. As a group, analysts predict that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, March 10th. FedEx's payout ratio is 34.63%.

Insider Activity

In related news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company's stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company's stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company's stock.

Institutional Investors Weigh In On FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Regal Investment Advisors LLC grew its position in shares of FedEx by 2.4% during the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after buying an additional 38 shares in the last quarter. Cetera Trust Company N.A increased its position in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock worth $2,230,000 after purchasing an additional 40 shares during the last quarter. Griffin Asset Management Inc. raised its stake in shares of FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock valued at $2,916,000 after purchasing an additional 40 shares in the last quarter. Aviso Financial Inc. lifted its position in shares of FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock worth $957,000 after purchasing an additional 40 shares during the last quarter. Finally, Garner Asset Management Corp grew its stake in FedEx by 0.7% in the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock worth $1,659,000 after purchasing an additional 41 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

About FedEx

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.