FedEx (FDX) – Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for FedEx (NYSE: FDX):

• 4/3/2024 – FedEx had its price target lowered by analysts at Stifel Nicolaus from $306.00 to $303.00. They now have a “buy” rating on the stock.
• 4/2/2024 – FedEx had its price target lowered by analysts at Bank of America Co. from $346.00 to $340.00. They now have a “buy” rating on the stock.
• 3/27/2024 – FedEx had its “underperform” rating reaffirmed by analysts at BNP Paribas. They now have a $250.00 price target on the stock.
• 3/22/2024 – FedEx had its price target raised by analysts at Barclays PLC from $310.00 to $350.00. They now have an “overweight” rating on the stock.
• 3/22/2024 – FedEx had its price target raised by analysts at Robert W. Baird from $315.00 to $325.00. They now have an “outperform” rating on the stock.
• 3/22/2024 – FedEx had its price target raised by analysts at Evercore ISI from $327.00 to $351.00. They now have an “outperform” rating on the stock.
• 3/22/2024 – FedEx had its price target raised by analysts at TD Cowen from $293.00 to $320.00. They now have an “outperform” rating on the stock.
• 3/22/2024 – FedEx had its price target raised by analysts at BMO Capital Markets from $290.00 to $310.00. They now have a “market perform” rating on the stock.
• 3/22/2024 – FedEx had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
• 3/22/2024 – FedEx had its price target raised by analysts at Jefferies Financial Group Inc. from $265.00 to $300.00. They now have a “hold” rating on the stock.
• 3/22/2024 – FedEx had its price target raised by analysts at Morgan Stanley from $195.00 to $210.00. They now have an “equal weight” rating on the stock.
• 3/22/2024 – FedEx had its price target raised by analysts at UBS Group AG from $323.00 to $340.00. They now have a “buy” rating on the stock.
• 3/22/2024 – FedEx had its price target raised by analysts at Bank of America Co. from $313.00 to $346.00. They now have a “buy” rating on the stock.
• 3/22/2024 – FedEx had its price target raised by analysts at The Goldman Sachs Group, Inc. from $291.00 to $324.00. They now have a “buy” rating on the stock.
• 3/21/2024 – FedEx had its price target lowered by analysts at Stifel Nicolaus from $305.00 to $290.00. They now have a “buy” rating on the stock.
• 3/4/2024 – FedEx had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $195.00 price target on the stock.
• 2/26/2024 – FedEx had its price target lowered by analysts at Morgan Stanley from $205.00 to $195.00. They now have an “equal weight” rating on the stock.
• 2/11/2024 – FedEx was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.

FedEx Price Performance

Shares of FDX traded down $6.07 during trading hours on Wednesday, hitting $270.30. The stock had a trading volume of 2,593,255 shares, compared to its average volume of 2,164,505. The stock has a market capitalization of $66.52 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 1.31 and a beta of 1.21. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The company’s fifty day moving average is $255.15 and its two-hundred day moving average is $253.90.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the prior year, the company posted $3.41 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 17.6 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.86%. FedEx’s payout ratio is presently 29.07%.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,668 shares of company stock worth $37,758,773. Insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. RB Capital Management LLC raised its holdings in shares of FedEx by 3.3% in the first quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock valued at $451,000 after purchasing an additional 63 shares during the last quarter. AMI Investment Management Inc. raised its holdings in shares of FedEx by 43.9% in the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock worth $3,560,000 after purchasing an additional 4,693 shares during the period. Moors & Cabot Inc. increased its position in FedEx by 101.5% in the first quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock worth $989,000 after buying an additional 2,153 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of FedEx by 7.8% during the 1st quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after buying an additional 10,731 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in FedEx by 553.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock worth $91,000 after acquiring an additional 332 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

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.