FedEx Co. (NYSE:FDX) Receives $313.96 Average PT from Brokerages

Shares of FedEx Co. (NYSE:FDX) have received an average rating of “Moderate Buy” from the twenty-six brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $314.67.

A number of research firms recently issued reports on FDX. Wells Fargo & Company boosted their price objective on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Raymond James lowered their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 24th. TD Cowen assumed coverage on shares of FedEx in a research report on Thursday, August 22nd. They set a “buy” rating and a $334.00 price objective on the stock. Argus boosted their target price on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, UBS Group reduced their price target on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st.

Insider Activity at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in shares of FedEx in the fourth quarter valued at about $25,000. Fortis Group Advisors LLC boosted its holdings in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in shares of FedEx during the 4th quarter valued at about $28,000. Sachetta LLC purchased a new position in FedEx in the fourth quarter worth approximately $32,000. Finally, Central Valley Advisors LLC acquired a new stake in shares of FedEx during the second quarter valued at about $39,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.1 %

FDX opened at $286.38 on Thursday. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a market capitalization of $70.47 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.03 and a beta of 1.17. The stock has a fifty day moving average of $293.17 and a 200-day moving average of $273.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the company earned $4.94 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts expect that FedEx will post 20.82 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.93%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

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.