FedEx (NYSE:FDX) Given Overweight Rating at Stephens

Stephens reissued their overweight rating on shares of FedEx (NYSE:FDX) in a research note released on Friday morning, Benzinga reports. Stephens currently has a $350.00 price target on the shipping service provider’s stock.

A number of other brokerages have also recently commented on FDX. TD Cowen dropped their price target on FedEx from $334.00 to $328.00 and set a buy rating for the company in a research note on Friday. Susquehanna dropped their target price on FedEx from $345.00 to $330.00 and set a positive rating for the company in a research report on Friday. JPMorgan Chase & Co. reduced their price target on FedEx from $359.00 to $350.00 and set an overweight rating on the stock in a report on Friday. StockNews.com downgraded shares of FedEx from a strong-buy rating to a buy rating in a research report on Saturday, August 24th. Finally, UBS Group dropped their price target on shares of FedEx from $333.00 to $311.00 and set a buy rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of Moderate Buy and a consensus target price of $314.74.

FedEx Stock Performance

FedEx stock opened at $258.82 on Friday. The stock has a market cap of $63.69 billion, a PE ratio of 15.02, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The business’s 50-day moving average price is $291.50 and its two-hundred day moving average price is $275.28.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $4.55 earnings per share. As a group, analysts expect that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business 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 dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.13%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Insiders Place Their Bets

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC raised its stake in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in FedEx during the fourth quarter worth $25,000. Central Valley Advisors LLC purchased a new stake in FedEx in the 2nd quarter valued at $39,000. Security National Bank bought a new position in FedEx during the 4th quarter valued at $44,000. Finally, Abound Wealth Management boosted its holdings in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

About FedEx

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.