FedEx Co. (NYSE:FDX) Given Average Rating of “Moderate Buy” by Brokerages

FedEx Co. (NYSE:FDX) has been given an average recommendation of “Moderate Buy” by the thirty research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $302.71.

Several equities research analysts have commented on the stock. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. UBS Group dropped their price objective on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Bank of America decreased their target price on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Wells Fargo & Company lowered their price target on FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, March 21st.

FedEx Stock Down 0.9 %

Shares of FedEx stock opened at $241.75 on Monday. The business has a fifty day simple moving average of $256.59 and a 200 day simple moving average of $270.89. The stock has a market cap of $57.92 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx has a 12 month low of $217.22 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.86 earnings per share. Research analysts predict that FedEx will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. FedEx’s dividend payout ratio is 34.63%.

Insider Activity

In other news, CEO Richard W. Smith sold 2,576 shares of the company’s 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 sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 12,711 shares of company stock worth $3,312,693 in the last quarter. Corporate insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC grew its holdings in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the period. Transce3nd LLC bought a new stake in FedEx in the fourth quarter valued at approximately $26,000. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. bought a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Finally, Kentucky Trust Co acquired a new position in shares of FedEx during the 4th quarter worth approximately $28,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.