FedEx’s (FDX) Outperform Rating Reiterated at Robert W. Baird

Robert W. Baird reiterated their outperform rating on shares of FedEx (NYSE:FDX) in a report issued on Friday morning, Benzinga reports. They currently have a $340.00 target price on the shipping service provider’s stock.

Several other equities analysts have also issued reports on FDX. Bank of America lifted their price objective on shares of FedEx from $340.00 to $347.00 and gave the company a buy rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded FedEx from a neutral rating to an overweight rating and upped their price objective for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. StockNews.com lowered FedEx from a strong-buy rating to a buy rating in a research note on Saturday, August 24th. Evercore ISI decreased their price target on shares of FedEx from $339.00 to $335.00 and set an outperform rating for the company in a research report on Thursday. Finally, Stephens restated an overweight rating and issued a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $314.67.

FedEx Trading Up 0.1 %

FDX opened at $286.38 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The stock’s fifty day moving average is $293.17 and its two-hundred day moving average is $273.79. The company has a market capitalization of $70.47 billion, a P/E ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $22.04 billion. During the same quarter last year, the firm posted $4.94 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts forecast that FedEx will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Brie Carere sold 1,958 shares of the firm’s 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 transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by insiders.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fortis Group Advisors LLC boosted its stake 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 acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC purchased a new position in FedEx during the fourth quarter worth approximately $25,000. Private Wealth Management Group LLC purchased a new position in FedEx during the fourth quarter worth approximately $28,000. Sachetta LLC purchased a new stake in shares of FedEx in the fourth quarter valued at approximately $32,000. Finally, Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

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.