FedEx Co. (FDX) Receives $272.56 Average PT from Brokerages
FedEx Co. (NYSE:FDX) has been given an average recommendation of “Buy” by the twenty-eight ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $273.12.
A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Co boosted their price target on shares of FedEx from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Zacks Investment Research upgraded shares of FedEx from a “hold” rating to a “strong-buy” rating and set a $310.00 price target on the stock in a report on Thursday. Stifel Nicolaus restated a “hold” rating and set a $221.00 price target (up previously from $216.00) on shares of FedEx in a report on Wednesday, September 20th. Loop Capital restated a “buy” rating and set a $260.00 price target (up previously from $250.00) on shares of FedEx in a report on Wednesday, September 20th. Finally, Citigroup boosted their price target on shares of FedEx to $275.00 and gave the company a “buy” rating in a report on Tuesday, December 12th.
FedEx (NYSE FDX) traded up $0.69 during mid-day trading on Monday, reaching $272.18. 1,856,781 shares of the company traded hands, compared to its average volume of 1,890,000. FedEx has a fifty-two week low of $182.89 and a fifty-two week high of $274.66. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $72,910.00, a price-to-earnings ratio of 25.02, a PEG ratio of 1.61 and a beta of 1.36.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The business had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. During the same quarter in the previous year, the business earned $2.80 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. equities analysts forecast that FedEx will post 13.13 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were paid a $0.50 dividend. The ex-dividend date was Friday, December 8th. This represents a $2.00 annualized dividend and a yield of 0.73%. FedEx’s dividend payout ratio is presently 18.38%.
In other FedEx news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now owns 36,747 shares in the company, valued at approximately $8,395,219.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the completion of the transaction, the chief operating officer now owns 48,562 shares in the company, valued at approximately $12,407,105.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,671 shares of company stock worth $17,137,160. Company insiders own 8.45% of the company’s stock.
A number of hedge funds have recently bought and sold shares of FDX. Salem Investment Counselors Inc. grew its position in FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after acquiring an additional 13 shares in the last quarter. Krilogy Financial LLC grew its position in FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares in the last quarter. Financial Engines Advisors L.L.C. bought a new stake in FedEx in the third quarter worth approximately $132,000. Massey Quick Simon & CO. LLC bought a new stake in FedEx in the third quarter worth approximately $136,000. Finally, Carroll Financial Associates Inc. grew its position in FedEx by 61.1% in the third quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after acquiring an additional 240 shares in the last quarter. 75.69% of the stock is owned by institutional investors.
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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