FedEx (NYSE:FDX) Upgraded at StockNews.com

StockNews.com upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a report published on Wednesday.

FDX has been the topic of a number of other reports. Bank of America cut their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. cut their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Stephens reaffirmed an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Loop Capital reduced their target price on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $316.04.

FedEx Stock Up 0.7 %

Shares of NYSE:FDX opened at $294.46 on Wednesday. The firm has a market cap of $71.94 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.17 and a beta of 1.17. FedEx has a 12-month low of $234.45 and a 12-month high of $313.84. The business has a fifty day simple moving average of $275.40 and a 200 day simple moving average of $276.27. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $4.55 EPS. Analysts predict that FedEx will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Institutional Investors Weigh In On FedEx

Institutional investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC raised its position in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares during the period. LRI Investments LLC lifted its position in shares of FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares in the last quarter. Ascent Wealth Partners LLC boosted its holdings in shares of FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the period. Detalus Advisors LLC raised its stake in shares of FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC lifted its holdings in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. 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.