Morgan Stanley set a $143.00 price target on FedEx (NYSE:FDX) in a research note published on Monday, TipRanks reports. The brokerage currently has a hold rating on the shipping service provider’s stock.
FDX has been the subject of a number of other research reports. Cowen reaffirmed an outperform rating and issued a $237.00 price objective (down previously from $242.00) on shares of FedEx in a research note on Thursday, March 14th. Wells Fargo & Co cut their price objective on shares of FedEx from $285.00 to $220.00 and set an outperform rating for the company in a research note on Thursday, March 21st. UBS Group cut their price objective on shares of FedEx from $161.00 to $145.00 and set a sell rating for the company in a research note on Friday, May 31st. Bank of America cut their price objective on shares of FedEx from $188.00 to $173.00 and set a neutral rating for the company in a research note on Friday, May 31st. Finally, BMO Capital Markets cut their price objective on shares of FedEx to $215.00 and set an outperform rating for the company in a research note on Wednesday, March 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $203.86.
Shares of FedEx stock opened at $161.37 on Monday. FedEx has a 52-week low of $150.68 and a 52-week high of $266.03. The firm has a market capitalization of $41.18 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.76 and a beta of 1.69. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Monday, June 24th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.60 annualized dividend and a yield of 1.61%. FedEx’s payout ratio is currently 16.98%.
In other FedEx news, CEO Frederick W. Smith sold 155,650 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the completion of the sale, the chief executive officer now owns 14,945,124 shares of the company’s stock, valued at approximately $2,837,032,888.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $173.30, for a total transaction of $4,679,100.00. Following the sale, the executive vice president now directly owns 200,320 shares of the company’s stock, valued at approximately $34,715,456. The disclosure for this sale can be found here. Insiders have sold a total of 185,650 shares of company stock valued at $34,751,470 in the last three months. 8.50% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Berman Capital Advisors LLC purchased a new stake in shares of FedEx in the 4th quarter worth about $25,000. Cordasco Financial Network lifted its position in shares of FedEx by 181.8% in the 1st quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after purchasing an additional 100 shares during the period. Covenant Multifamily Offices LLC purchased a new stake in shares of FedEx in the 1st quarter worth about $29,000. Evolution Wealth Advisors LLC purchased a new stake in shares of FedEx in the 1st quarter worth about $31,000. Finally, Advocacy Wealth Management Services LLC lifted its position in shares of FedEx by 52.5% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock worth $34,000 after purchasing an additional 63 shares during the period. 69.45% of the stock is owned by institutional investors and hedge funds.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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