Today, FedEx Corp. (FDX) Now Covered by Analysts at Deutsche Bank AG

Today, FedEx Corp. (FDX) Now Covered by Analysts at Deutsche Bank AG
Deutsche Bank AG started coverage on shares of FedEx Corp. (NYSE:FDX) in a research note published on Thursday. The brokerage issued a buy rating on the shipping service provider’s stock.

Several other brokerages also recently commented on FDX. Cowen and Company restated a market perform rating and set a $110.00 target price on shares of FedEx Corp. in a report on Sunday, July 31st. Vetr upgraded shares of FedEx Corp. from a buy rating to a strong-buy rating and set a $179.94 target price on the stock in a report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of FedEx Corp. from a hold rating to a sell rating in a report on Tuesday, August 23rd. Barclays PLC restated a buy rating and set a $205.00 target price on shares of FedEx Corp. in a report on Monday, September 19th. Finally, Stifel Nicolaus raised their target price on shares of FedEx Corp. from $179.00 to $186.00 and gave the stock a buy rating in a report on Wednesday, September 21st. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $178.08.

FedEx Corp. (NYSE:FDX) traded up 0.74% during mid-day trading on Thursday, hitting $191.53. 653,169 shares of the company traded hands. The stock has a market capitalization of $50.90 billion, a price-to-earnings 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. The company’s 50-day moving average is $177.63 and its 200-day moving average is $166.56.

FedEx Corp. (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The business had revenue of $14.70 billion for the quarter. During the same period in the previous year, the business earned $2.42 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. Analysts predict that FedEx Corp. will post $12.15 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Thursday, December 8th. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.

In other FedEx Corp. news, EVP Robert B. Carter sold 24,784 shares of the business’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $176.95, for a total transaction of $4,385,528.80. Following the completion of the transaction, the executive vice president now owns 68,183 shares of the company’s stock, valued at $12,064,981.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John L. Merino sold 10,280 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $181.72, for a total value of $1,868,081.60. Following the transaction, the vice president now directly owns 29,722 shares of the company’s stock, valued at approximately $5,401,081.84. The disclosure for this sale can be found here. 8.67% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Alpha Windward LLC increased its position in shares of FedEx Corp. by 0.9% in the third quarter. Alpha Windward LLC now owns 1,112 shares of the shipping service provider’s stock valued at $194,000 after buying an additional 10 shares during the last quarter. Brick & Kyle Associates increased its position in shares of FedEx Corp. by 2.2% in the third quarter. Brick & Kyle Associates now owns 664 shares of the shipping service provider’s stock valued at $116,000 after buying an additional 14 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of FedEx Corp. by 0.9% in the second quarter. Quadrant Capital Group LLC now owns 1,623 shares of the shipping service provider’s stock valued at $238,000 after buying an additional 15 shares during the last quarter. Moody National Bank Trust Division increased its position in shares of FedEx Corp. by 0.3% in the second quarter. Moody National Bank Trust Division now owns 4,592 shares of the shipping service provider’s stock valued at $697,000 after buying an additional 15 shares during the last quarter. Finally, Indiana Trust & Investment Management CO increased its position in shares of FedEx Corp. by 0.4% in the third quarter. Indiana Trust & Investment Management CO now owns 4,068 shares of the shipping service provider’s stock valued at $711,000 after buying an additional 15 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

FedEx Corp. Company Profile

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