Trading Report: Today, FedEx Corp. (FDX) Coverage Initiated at Deutsche Bank AG

Today, FedEx Corp. (FDX) Coverage Initiated at Deutsche Bank AG

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.

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