FedEx (NYSE:FDX) Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of FedEx (NYSE:FDXFree Report) from a strong-buy rating to a buy rating in a report issued on Sunday.

A number of other equities analysts also recently issued reports on FDX. Raymond James decreased their price objective on FedEx from $279.00 to $275.00 and set an outperform rating for the company in a report on Wednesday, December 20th. TD Cowen lifted their price target on shares of FedEx from $290.00 to $293.00 and gave the company an outperform rating in a research report on Tuesday, December 12th. Bank Of America (Bofa) boosted their price objective on shares of FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. Stephens decreased their target price on shares of FedEx from $330.00 to $320.00 and set an overweight rating for the company in a research note on Wednesday, December 20th. Finally, Melius Research raised FedEx from a hold rating to a buy rating and set a $310.00 price target on the stock in a research report on Monday, January 8th. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $289.93.

Get Our Latest Stock Report on FDX

FedEx Trading Up 0.4 %

NYSE:FDX opened at $242.62 on Friday. The company has a 50-day moving average price of $253.53 and a 200-day moving average price of $254.77. The stock has a market cap of $60.63 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.14 and a beta of 1.20. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75. FedEx has a 12 month low of $190.83 and a 12 month high of $285.53.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.99 EPS for the quarter, missing the consensus estimate of $4.14 by ($0.15). FedEx had a return on equity of 16.47% and a net margin of 4.87%. The company had revenue of $22.17 billion during the quarter, compared to analysts’ expectations of $22.36 billion. During the same quarter last year, the business earned $3.18 earnings per share. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts predict that FedEx will post 17.76 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were paid a dividend of $1.26 per share. The ex-dividend date was Friday, December 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.08%. FedEx’s dividend payout ratio (DPR) is presently 29.86%.

Insiders Place Their Bets

In other news, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was acquired at an average cost of $252.02 per share, for a total transaction of $252,020.00. Following the completion of the transaction, the executive vice president now directly owns 4,745 shares in the company, valued at approximately $1,195,834.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other FedEx news, Director Amy B. Lane bought 200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The shares were bought at an average price of $253.22 per share, with a total value of $50,644.00. Following the purchase, the director now owns 3,304 shares of the company’s stock, valued at $836,638.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was acquired at an average price of $252.02 per share, with a total value of $252,020.00. Following the completion of the purchase, the executive vice president now directly owns 4,745 shares in the company, valued at $1,195,834.90. The disclosure for this purchase can be found here. 8.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently modified their holdings of FDX. Johnson Financial Group Inc. increased its holdings in FedEx by 260.0% in the 4th quarter. Johnson Financial Group Inc. now owns 180 shares of the shipping service provider’s stock valued at $46,000 after acquiring an additional 130 shares during the last quarter. Skopos Labs Inc. purchased a new position in shares of FedEx in the fourth quarter valued at $344,000. Advisory Services Network LLC raised its stake in FedEx by 5.5% during the fourth quarter. Advisory Services Network LLC now owns 26,691 shares of the shipping service provider’s stock valued at $6,752,000 after purchasing an additional 1,395 shares in the last quarter. HCR Wealth Advisors lifted its position in FedEx by 17.6% during the fourth quarter. HCR Wealth Advisors now owns 6,408 shares of the shipping service provider’s stock valued at $1,621,000 after purchasing an additional 961 shares during the last quarter. Finally, Team Hewins LLC purchased a new position in shares of FedEx in the 4th quarter worth $236,000. Hedge funds and other institutional investors own 73.61% of the company’s stock.

About FedEx

(Get Free Report)

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.

Further Reading

Analyst Recommendations for FedEx (NYSE:FDX)

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