FedEx Co. (NYSE:FDX – Get Free Report) has been given a consensus rating of “Moderate Buy” by the twenty-seven brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $314.17.
Several research analysts have issued reports on the company. Robert W. Baird cut their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. BMO Capital Markets cut their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a report on Sunday, October 6th. Finally, The Goldman Sachs Group cut their price target on FedEx from $333.00 to $332.00 in a report on Friday, September 20th.
Insiders Place Their Bets
Hedge Funds Weigh In On FedEx
Several hedge funds have recently made changes to their positions in FDX. Creative Planning boosted its stake in FedEx by 15.7% during the third quarter. Creative Planning now owns 81,696 shares of the shipping service provider’s stock valued at $22,237,000 after buying an additional 11,081 shares during the period. CX Institutional lifted its stake in FedEx by 7.6% during the third quarter. CX Institutional now owns 2,552 shares of the shipping service provider’s stock worth $698,000 after purchasing an additional 180 shares during the last quarter. Grove Bank & Trust lifted its stake in FedEx by 13.6% during the third quarter. Grove Bank & Trust now owns 384 shares of the shipping service provider’s stock worth $105,000 after purchasing an additional 46 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in FedEx by 47.2% during the third quarter. Fiduciary Alliance LLC now owns 1,195 shares of the shipping service provider’s stock worth $327,000 after purchasing an additional 383 shares during the last quarter. Finally, Woodstock Corp lifted its stake in FedEx by 0.7% during the third quarter. Woodstock Corp now owns 25,452 shares of the shipping service provider’s stock worth $6,966,000 after purchasing an additional 185 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.
FedEx Stock Up 0.0 %
Shares of FedEx stock opened at $264.36 on Monday. FedEx has a one year low of $224.69 and a one 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 50-day moving average is $281.08 and its 200 day moving average is $275.58. The firm has a market cap of $64.59 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.06 and a beta of 1.17.
FedEx (NYSE:FDX – Get Free Report) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the company earned $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts anticipate that FedEx will post 19.6 EPS for the current year.
FedEx Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 34.05%.
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.
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