FedEx (NYSE:FDX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

FDX has been the subject of a number of other reports. Robert W. Baird decreased their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday. Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, 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 report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.88.

FedEx Trading Down 0.1 %

FedEx stock opened at $275.73 on Friday. FedEx has a one year low of $234.45 and a one year high of $313.84. The business’s fifty day moving average is $282.71 and its 200 day moving average is $281.85. The stock has a market capitalization of $67.37 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter last year, the firm posted $3.99 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, sell-side analysts predict that FedEx will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. FedEx’s dividend payout ratio is currently 34.05%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Evermay Wealth Management LLC lifted its position in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in FedEx in the 3rd quarter worth approximately $31,000. Abound Wealth Management raised its holdings in shares of 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 in the last quarter. Sachetta LLC boosted 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 acquiring an additional 37 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of FedEx in the third quarter valued at $47,000. 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.