ValuEngine upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a research report released on Sunday morning.
A number of other research analysts also recently commented on the company. Stephens set a $306.00 price objective on FedEx and gave the company a buy rating in a report on Wednesday, December 20th. JPMorgan Chase & Co. increased their price objective on FedEx from $237.00 to $264.00 and gave the company an overweight rating in a report on Thursday, October 12th. Goldman Sachs Group began coverage on FedEx in a research note on Monday, November 13th. They set a buy rating and a $270.00 price target on the stock. Barclays restated an overweight rating and set a $270.00 price target (up previously from $230.00) on shares of FedEx in a research note on Thursday, November 30th. They noted that the move was a valuation call. Finally, Credit Suisse Group restated an outperform rating and set a $233.00 price target (down previously from $242.00) on shares of FedEx in a research note on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $261.99.
FedEx (NYSE FDX) opened at $260.82 on Friday. FedEx has a 1-year low of $182.89 and a 1-year high of $261.57. The company has a market capitalization of $69,870.00, a PE ratio of 23.97, a PEG ratio of 1.56 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.77%. FedEx’s dividend payout ratio (DPR) is currently 18.38%.
In other news, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the sale, the executive vice president now directly owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kim Jabal sold 3,980 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the sale, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The disclosure for this sale can be found here. Insiders sold a total of 65,655 shares of company stock worth $16,334,753 over the last quarter. Company insiders own 8.45% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its holdings in shares of FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after buying an additional 13 shares during the period. Krilogy Financial LLC lifted its holdings in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the period. Financial Engines Advisors L.L.C. acquired a new stake in shares of FedEx in the 3rd quarter valued at approximately $132,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of FedEx in the 3rd quarter valued at approximately $136,000. Finally, Carroll Financial Associates Inc. lifted its holdings in shares of FedEx by 61.1% in the 3rd quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock valued at $140,000 after buying an additional 240 shares during the period. 75.60% of the stock is owned by institutional investors and hedge funds.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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