FedEx Co. (NYSE:FDX) has been assigned an average rating of “Buy” from the twenty-six ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $190.74.
FDX has been the subject of several recent research reports. Oppenheimer dropped their target price on shares of FedEx from $192.00 to $176.00 and set an “outperform” rating for the company in a research report on Thursday, June 27th. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $184.00 to $172.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Sanford C. Bernstein set a $205.00 price target on shares of FedEx and gave the company a “buy” rating in a report on Thursday, June 20th. Loop Capital decreased their price target on shares of FedEx from $262.00 to $220.00 in a report on Wednesday, June 26th. Finally, Bank of America decreased their price target on shares of FedEx from $188.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, May 31st.
Shares of FedEx stock traded up $3.18 on Tuesday, hitting $156.00. 1,536,200 shares of the company’s stock traded hands, compared to its average volume of 2,030,355. The firm’s 50-day moving average price is $164.88 and its two-hundred day moving average price is $173.86. The stock has a market capitalization of $39.86 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.83 and a beta of 1.65. FedEx has a one year low of $150.68 and a one year high of $259.25. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.45 and a quick ratio of 1.39.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.67%. FedEx’s payout ratio is presently 16.75%.
In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $161.88, for a total transaction of $718,747.20. Following the sale, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Carter sold 23,100 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the sale, the executive vice president now directly owns 68,446 shares in the company, valued at $12,031,437.88. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Sageworth Trust Co bought a new stake in shares of FedEx in the 2nd quarter valued at about $25,000. Covenant Multifamily Offices LLC bought a new position in FedEx in the 1st quarter valued at about $29,000. Evolution Wealth Advisors LLC bought a new position in FedEx in the 1st quarter valued at about $31,000. Endurance Wealth Management Inc. raised its holdings in FedEx by 375.0% in the 1st quarter. Endurance Wealth Management Inc. now owns 190 shares of the shipping service provider’s stock valued at $34,000 after acquiring an additional 150 shares during the period. Finally, Nelson Roberts Investment Advisors LLC bought a new position in FedEx in the 2nd quarter valued at about $34,000. 68.64% of the stock is currently owned by hedge funds and other institutional investors.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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