FedEx Co. (NYSE:FDX) Receives $314.00 Average PT from Brokerages

Shares of FedEx Co. (NYSE:FDX) have been given a consensus recommendation of “Moderate Buy” by the twenty-five research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $313.96.

Several research firms recently weighed in on FDX. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. TD Cowen initiated coverage on shares of FedEx in a research report on Thursday. They set a “buy” rating and a $334.00 price target on the stock. Argus raised their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Raymond James reduced their target price on FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. Finally, StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday.

FedEx Stock Performance

Shares of NYSE:FDX opened at $297.18 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $288.65 and a 200-day moving average price of $268.31. The company has a market cap of $73.13 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. FedEx has a 12 month low of $224.69 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.94 EPS. As a group, equities analysts anticipate that FedEx will post 20.94 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.86%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insiders Place Their Bets

In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now 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 SEC, which is accessible through this hyperlink. In other news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by insiders.

Hedge Funds Weigh In On FedEx

A number of institutional investors and hedge funds have recently made changes to their positions in FDX. SeaCrest Wealth Management LLC raised its position in FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares during the period. LRI Investments LLC lifted its position in FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares in the last quarter. Ascent Wealth Partners LLC grew its holdings in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC increased its position in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after buying an additional 37 shares in the last quarter. Finally, Sachetta LLC lifted its position in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares in the last quarter. 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.