FedEx (NYSE:FDX) Research Coverage Started at Truist Financial

Truist Financial started coverage on shares of FedEx (NYSE:FDX) in a research report report published on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $305.00 price target on the shipping service provider’s stock.

A number of other analysts have also recently weighed in on the stock. Barclays increased their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. UBS Group increased their price objective on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Bank of America increased their target price on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $318.04.

FedEx Stock Up 0.5 %

Shares of NYSE:FDX opened at $242.27 on Thursday. The stock has a market capitalization of $58.35 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx has a 1-year low of $239.50 and a 1-year high of $313.84. The company’s fifty day moving average is $263.04 and its two-hundred day moving average is $274.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the prior year, the company earned $3.99 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that FedEx will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

Institutional Trading of FedEx

A number of hedge funds have recently made changes to their positions in FDX. Fortitude Family Office LLC raised its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares in the last quarter. Transce3nd LLC bought a new position in FedEx during the fourth quarter valued at approximately $26,000. Peoples Financial Services CORP. bought a new position in FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. bought a new position in FedEx during the fourth quarter valued at approximately $28,000. Finally, Kentucky Trust Co bought a new position in FedEx during the fourth quarter valued at approximately $28,000. 84.47% of the stock is 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.