FedEx (NYSE:FDX) Receives “Overweight” Rating from Stephens

Stephens reiterated their overweight rating on shares of FedEx (NYSE:FDX) in a research report report published on Friday morning, Benzinga reports. They currently have a $350.00 price objective on the shipping service provider’s stock.

A number of other analysts have also weighed in on FDX. StockNews.com lowered shares of FedEx from a strong-buy rating to a buy rating in a research note on Saturday, August 24th. Bernstein Bank raised their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an overweight rating in a research note on Friday. Robert W. Baird decreased their price objective on shares of FedEx from $340.00 to $320.00 and set an outperform rating for the company in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $359.00 to $350.00 and set an overweight rating for the company in a research note on Friday. Finally, Argus raised their price target on shares of FedEx from $325.00 to $335.00 and gave the company a buy rating in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $315.95.

FedEx Stock Performance

Shares of FDX stock opened at $254.64 on Friday. FedEx has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm has a market capitalization of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. The company’s fifty day moving average price is $292.43 and its two-hundred day moving average price is $275.22.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the company earned $4.55 EPS. FedEx’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts anticipate that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Insiders Place Their Bets

In related news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last three months. 8.73% of the stock is currently owned by insiders.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of FDX. Crossmark Global Holdings Inc. raised its holdings in shares of FedEx by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after acquiring an additional 5,055 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in FedEx in the 1st quarter worth approximately $1,667,000. Allegheny Financial Group LTD bought a new stake in shares of FedEx in the first quarter worth $203,000. Hilltop National Bank bought a new stake in shares of FedEx in the first quarter worth $476,000. Finally, Csenge Advisory Group grew its holdings in shares of FedEx by 14.9% in the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after acquiring an additional 298 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

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.