FedEx (NYSE:FDX) Receives New Coverage from Analysts at Citigroup

Citigroup began coverage on shares of FedEx (NYSE:FDX) in a report released on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $301.00 price objective on the shipping service provider’s stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley downgraded FedEx from an equal weight rating to an underweight rating and cut their target price for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Stifel Nicolaus cut their price target on shares of FedEx from $327.00 to $321.00 and set a buy rating for the company in a report on Friday, September 20th. Stephens reaffirmed an overweight rating and issued a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Loop Capital dropped their price objective on FedEx from $317.00 to $288.00 and set a hold rating for the company in a research note on Monday, September 23rd. Finally, Bank of America reduced their target price on FedEx from $347.00 to $345.00 and set a buy rating for the company in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, FedEx currently has a consensus rating of Moderate Buy and an average price target of $314.17.

FedEx Stock Performance

Shares of FDX opened at $264.66 on Wednesday. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock’s fifty day moving average price is $283.06 and its two-hundred day moving average price is $275.86. The firm has a market cap of $65.13 billion, a PE ratio of 15.36, a PEG ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.55 earnings per share. On average, equities research analysts forecast that FedEx will post 19.66 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Transactions 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 transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

Institutional investors have recently bought and sold shares of the stock. Scarborough Advisors LLC bought a new position in shares of FedEx in the 4th quarter worth approximately $25,000. Fortis Group Advisors LLC raised its holdings in FedEx by 100.0% in the fourth 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 in the last quarter. Central Valley Advisors LLC purchased a new position in FedEx during the second quarter valued at $39,000. Abound Wealth Management boosted its holdings in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Finally, Sachetta LLC grew its position in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the period. 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.