FedEx Co. (FDX) Given Average Recommendation of “Buy” by Brokerages

Shares of FedEx Co. (NYSE:FDX) have been assigned a consensus rating of “Buy” from the twenty-three analysts that are currently covering the firm. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $199.59.

A number of equities analysts have weighed in on the stock. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $210.00 price target (up from $184.00) on shares of FedEx in a research report on Wednesday, December 14th. Vetr downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $200.57 target price on the stock. in a report on Tuesday, December 20th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $233.00 target price on shares of FedEx in a report on Wednesday, December 21st. Morgan Stanley set a $135.00 target price on shares of FedEx and gave the stock a “neutral” rating in a report on Wednesday, December 21st. Finally, Credit Suisse Group AG set a $205.00 target price on shares of FedEx and gave the stock a “buy” rating in a report on Wednesday, December 21st.

Shares of FedEx (NYSE:FDX) opened at 192.27 on Thursday. The company has a market cap of $51.24 billion, a price-to-earnings ratio of 28.25 and a beta of 1.14. The firm has a 50-day moving average of $192.11 and a 200-day moving average of $183.57. FedEx has a one year low of $145.00 and a one year high of $201.57.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, December 20th. The shipping service provider reported $2.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.90 by $0.10. The firm earned $14.90 billion during the quarter. FedEx had a return on equity of 22.02% and a net margin of 3.35%. FedEx’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 EPS. Equities research analysts forecast that FedEx will post $12.01 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 13th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Thursday, March 9th. FedEx’s dividend payout ratio is currently 23.46%.

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In other news, CEO David J. Bronczek sold 36,529 shares of the stock in a transaction on Thursday, December 22nd. The shares were sold at an average price of $192.08, for a total value of $7,016,490.32. Following the sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at $16,080,169.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert B. Carter sold 34,580 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $191.22, for a total transaction of $6,612,387.60. Following the completion of the sale, the executive vice president now directly owns 77,062 shares in the company, valued at approximately $14,735,795.64. The disclosure for this sale can be found here. Corporate insiders own 8.67% of the company’s stock.

Several large investors have recently made changes to their positions in FDX. Sterling Capital Management LLC increased its stake in shares of FedEx by 1.8% in the second quarter. Sterling Capital Management LLC now owns 3,937 shares of the shipping service provider’s stock valued at $598,000 after buying an additional 68 shares in the last quarter. IFP Advisors Inc increased its stake in shares of FedEx by 2.1% in the second quarter. IFP Advisors Inc now owns 7,278 shares of the shipping service provider’s stock valued at $1,105,000 after buying an additional 153 shares in the last quarter. Williams Jones & Associates LLC increased its stake in shares of FedEx by 10.0% in the second quarter. Williams Jones & Associates LLC now owns 122,828 shares of the shipping service provider’s stock valued at $18,643,000 after buying an additional 11,175 shares in the last quarter. Carnick & Kubik Group LLC purchased a new stake in shares of FedEx during the second quarter valued at $1,066,000. Finally, Cullinan Associates Inc. increased its stake in shares of FedEx by 6.8% in the third quarter. Cullinan Associates Inc. now owns 17,235 shares of the shipping service provider’s stock valued at $3,011,000 after buying an additional 1,100 shares in the last quarter. 75.22% of the stock is currently owned by institutional investors and hedge funds.

About FedEx

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

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