FedEx (NYSE:FDX) Rating Lowered to Hold at Deutsche Bank
Deutsche Bank downgraded shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The firm currently has $142.00 target price on the shipping service provider’s stock, down from their previous target price of $178.00.
A number of other research firms have also recently issued reports on FDX. Bank of America lowered their target price on FedEx from $188.00 to $173.00 and set a neutral rating for the company in a report on Friday, May 31st. Cowen reiterated an outperform rating and set a $228.00 target price (down previously from $230.00) on shares of FedEx in a report on Thursday, June 20th. Zacks Investment Research cut FedEx from a hold rating to a sell rating and set a $161.00 target price for the company. in a report on Thursday, August 29th. JPMorgan Chase & Co. lowered their target price on FedEx from $184.00 to $172.00 and set a neutral rating for the company in a report on Wednesday, June 26th. Finally, Berenberg Bank set a $175.00 price objective on FedEx and gave the company a hold rating in a report on Friday, June 28th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. FedEx presently has an average rating of Hold and a consensus price target of $175.56.
FDX stock opened at $148.78 on Tuesday. The stock has a 50-day moving average price of $160.17 and a two-hundred day moving average price of $170.42. The stock has a market cap of $39.37 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 0.81 and a beta of 1.69. The company has a current ratio of 1.31, a quick ratio of 1.39 and a debt-to-equity ratio of 1.70. FedEx has a 1 year low of $147.82 and a 1 year high of $250.95.
The company 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. The ex-dividend date is Friday, September 6th. This represents a $2.60 annualized dividend and a yield of 1.75%. FedEx’s dividend payout ratio (DPR) is currently 16.75%.
In related news, Director Paul S. Walsh sold 4,440 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the sale, the director now directly owns 16,440 shares in the company, valued at approximately $2,661,307.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Carter sold 23,100 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. Company insiders own 8.44% of the company’s stock.
A number of large investors have recently modified their holdings of FDX. Sageworth Trust Co acquired a new stake in FedEx during the second quarter worth approximately $25,000. Evolution Wealth Advisors LLC acquired a new stake in FedEx during the first quarter worth approximately $31,000. Nelson Roberts Investment Advisors LLC acquired a new stake in FedEx during the second quarter worth approximately $34,000. Icon Wealth Partners LLC acquired a new stake in FedEx during the first quarter worth approximately $38,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in FedEx during the second quarter worth approximately $39,000. Institutional investors and hedge funds own 71.34% of the company’s stock.
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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