FedEx Corp. (FDX) Downgraded to Buy at Vetr Inc.
Vetr downgraded shares of FedEx Corp. (NYSE:FDX) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday. The brokerage currently has $177.10 price objective on the shipping service provider’s stock.
A number of other research analysts have also recently weighed in on the stock. Barclays PLC set a $205.00 target price on shares of FedEx Corp. and gave the company a buy rating in a research note on Monday. Zacks Investment Research upgraded shares of FedEx Corp. from a sell rating to a hold rating in a research note on Tuesday, September 13th. Cowen and Company restated a market perform rating and set a $110.00 target price on shares of FedEx Corp. in a research note on Sunday, July 31st. Wolfe Research upgraded shares of FedEx Corp. from a market perform rating to an outperform rating in a research note on Friday, July 1st. Finally, Credit Suisse Group AG restated a buy rating on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. FedEx Corp. has an average rating of Buy and a consensus price target of $175.85.
FedEx Corp. (NYSE:FDX) opened at 173.86 on Wednesday. The company has a 50-day moving average price of $164.57 and a 200-day moving average price of $161.19. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $174.32. The company has a market cap of $46.16 billion, a PE ratio of 26.71 and a beta of 1.35.
FedEx Corp. (NYSE:FDX) last released its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.56%. The company had revenue of $14.70 billion for the quarter. During the same quarter last year, the firm posted $2.42 EPS. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, analysts expect that FedEx Corp. will post $11.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be given a $0.40 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. FedEx Corp.’s payout ratio is presently 23.99%.
In other news, EVP Alan B. Graf, Jr. sold 7,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $159.43, for a total value of $1,179,782.00. Following the completion of the sale, the executive vice president now owns 150,665 shares of the company’s stock, valued at approximately $24,020,520.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Edwardson sold 2,882 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $162.63, for a total transaction of $468,699.66. Following the completion of the sale, the director now directly owns 29,090 shares of the company’s stock, valued at approximately $4,730,906.70. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. First Personal Financial Services boosted its stake in shares of FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 111 shares during the last quarter. Glassman Wealth Services boosted its stake in shares of FedEx Corp. by 200.6% in the second quarter. Glassman Wealth Services now owns 974 shares of the shipping service provider’s stock valued at $148,000 after buying an additional 650 shares during the last quarter. Invictus RG acquired a new stake in shares of FedEx Corp. during the first quarter valued at $161,000. Beese Fulmer Investment Management Inc. boosted its stake in shares of FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock valued at $200,000 after buying an additional 32 shares during the last quarter. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of FedEx Corp. during the second quarter valued at $202,000. 73.78% of the stock is owned by hedge funds and other institutional investors.
About FedEx Corp.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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