The Deutsche Bank AG Begins Coverage on FedEx Corp. (FDX)

The Deutsche Bank AG Begins Coverage on FedEx Corp. (FDX)

Stock analysts at Deutsche Bank AG assumed coverage on shares of FedEx Corp. (NYSE:FDX) in a research note issued to investors on Wednesday. The firm set a “buy” rating and a $210.00 price target on the shipping service provider’s stock. Deutsche Bank AG’s price target suggests a potential upside of 9.64% from the stock’s current price.

A number of other research firms have also recently weighed in on FDX. Vetr cut FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 price target for the company. in a report on Tuesday, September 27th. Zacks Investment Research upgraded FedEx Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a research note on Thursday, September 22nd. Robert W. Baird reiterated an “outperform” rating and set a $185.00 target price on shares of FedEx Corp. in a research note on Friday, September 23rd. Finally, Barclays PLC restated a “top pick” rating on shares of FedEx Corp. in a research note on Wednesday, September 21st. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. FedEx Corp. currently has an average rating of “Buy” and a consensus price target of $178.08.

Shares of FedEx Corp. (NYSE:FDX) traded up 0.74% during trading on Wednesday, hitting $191.53. 653,169 shares of the stock were exchanged. The company has a market cap of $50.90 billion, a price-to-earnings ratio of 28.65 and a beta of 1.14. The firm has a 50 day moving average of $177.63 and a 200-day moving average of $166.56. FedEx Corp. has a 12-month low of $119.71 and a 12-month high of $191.84.

FedEx Corp. (NYSE:FDX) last released 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 firm earned $14.70 billion during the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 EPS. On average, analysts forecast that FedEx Corp. will post $12.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend 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 Christine P. Richards sold 80,080 shares of the business’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $173.59, for a total transaction of $13,901,087.20. Following the sale, the executive vice president now owns 98,620 shares in the company, valued at approximately $17,119,445.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David J. Bronczek sold 32,669 shares of the business’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $176.30, for a total value of $5,759,544.70. Following the sale, the chief executive officer now owns 85,356 shares in the company, valued at approximately $15,048,262.80. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Mycio Wealth Partners LLC increased its stake in FedEx Corp. by 21.1% in the third quarter. Mycio Wealth Partners LLC now owns 597 shares of the shipping service provider’s stock valued at $104,000 after buying an additional 104 shares during the last quarter. First Personal Financial Services increased its stake in FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 111 shares during the last quarter. Adirondack Trust Co. increased its stake in FedEx Corp. by 15.0% in the third quarter. Adirondack Trust Co. now owns 652 shares of the shipping service provider’s stock valued at $114,000 after buying an additional 85 shares during the last quarter. Brick & Kyle Associates increased its stake in 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. Finally, Coconut Grove Bank increased its stake in FedEx Corp. by 2.2% in the third quarter. Coconut Grove Bank now owns 758 shares of the shipping service provider’s stock valued at $133,000 after buying an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

FedEx Corp. Company Profile

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