Equities researchers at Deutsche Bank AG began coverage on shares of FedEx Corp. (NYSE:FDX) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating on the shipping service provider’s stock.
FDX has been the subject of a number of other research reports. Stifel Nicolaus cut shares of FedEx Corp. from a “buy” rating to a “hold” rating and set a $186.00 price objective for the company. in a report on Tuesday, November 15th. They noted that the move was a valuation call. BMO Capital Markets began coverage on shares of FedEx Corp. in a report on Thursday, November 17th. They set a “market perform” rating and a $190.00 price objective for the company. Vetr cut shares of FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 price objective for the company. in a report on Tuesday, September 27th. Citigroup Inc. restated a “buy” rating on shares of FedEx Corp. in a report on Thursday, September 22nd. Finally, Zacks Investment Research upgraded shares of FedEx Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $178.08.
FedEx Corp. (NYSE:FDX) traded up 0.74% on Thursday, hitting $191.53. 653,169 shares of the stock were exchanged. The company has a 50 day moving average of $177.63 and a 200 day moving average of $166.56. The stock has a market capitalization of $50.90 billion, a P/E ratio of 28.65 and a beta of 1.14. FedEx Corp. has a one year low of $119.71 and a one year high of $191.84.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.09. The business earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $2.42 earnings per share. On average, equities research analysts forecast that FedEx Corp. will post $12.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, December 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.84%. FedEx Corp.’s payout ratio is 23.99%.
In other FedEx Corp. news, insider Henry J. Maier sold 5,213 shares of the stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $176.65, for a total transaction of $920,876.45. Following the sale, the insider now directly owns 27,720 shares in the company, valued at $4,896,738. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John L. Merino sold 10,280 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $181.72, for a total transaction of $1,868,081.60. Following the sale, the vice president now owns 29,722 shares in the company, valued at $5,401,081.84. The disclosure for this sale can be found here. Company insiders own 8.67% of the company’s stock.
Large investors have recently made changes to their positions in the company. Jennison Associates LLC bought a new stake in FedEx Corp. during the third quarter worth $215,531,000. Ameriprise Financial Inc. increased its stake in FedEx Corp. by 23.3% in the third quarter. Ameriprise Financial Inc. now owns 3,685,675 shares of the shipping service provider’s stock worth $643,835,000 after buying an additional 696,512 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in FedEx Corp. during the second quarter worth $102,955,000. Bank of Montreal Can bought a new stake in FedEx Corp. during the second quarter worth $98,813,000. Finally, The Manufacturers Life Insurance Company bought a new stake in FedEx Corp. during the third quarter worth $113,014,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.
About FedEx Corp.