FedEx (NYSE:FDX) Given Market Perform Rating at Oppenheimer

Oppenheimer reaffirmed their market perform rating on shares of FedEx (NYSE:FDX) in a report released on Wednesday, Benzinga reports.

Other analysts have also issued research reports about the company. Raymond James decreased their price target on FedEx from $325.00 to $300.00 and set an outperform rating on the stock in a research note on Monday, June 24th. JPMorgan Chase & Co. raised FedEx from a neutral rating to an overweight rating and boosted their price target for the company from $296.00 to $359.00 in a research note on Wednesday. Evercore ISI decreased their price target on FedEx from $351.00 to $318.00 and set an outperform rating on the stock in a research note on Monday, June 24th. Jefferies Financial Group boosted their price target on FedEx from $265.00 to $300.00 and gave the company a hold rating in a research note on Friday, March 22nd. Finally, UBS Group decreased their price target on FedEx from $340.00 to $333.00 and set a buy rating on the stock in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, FedEx has a consensus rating of Moderate Buy and a consensus target price of $314.00.

FedEx Price Performance

Shares of NYSE:FDX opened at $299.84 on Wednesday. FedEx has a 1-year low of $224.69 and a 1-year high of $302.41. The firm has a market capitalization of $73.78 billion, a PE ratio of 17.40, a PEG ratio of 1.09 and a beta of 1.16. The business’s 50 day moving average is $258.10 and its 200-day moving average is $256.36. The company has a current ratio of 1.36, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same quarter last year, the firm earned $4.94 EPS. FedEx’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts predict that FedEx will post 20.51 earnings per share for the current year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is presently 32.04%.

FedEx announced that its board has authorized a share repurchase program on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at FedEx

In other news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now owns 14,745 shares in the company, valued at $4,345,646.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the sale, the director now owns 14,745 shares in the company, valued at $4,345,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold a total of 119,810 shares of company stock worth $32,924,413 over the last 90 days. 8.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Fortis Group Advisors LLC boosted its position in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC acquired a new position in shares of FedEx during the fourth quarter worth about $25,000. Financial Management Professionals Inc. boosted its position in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC acquired a new position in shares of FedEx during the fourth quarter worth about $28,000. Finally, Rakuten Securities Inc. acquired a new position in FedEx during the fourth quarter valued at approximately $30,000. 84.47% of the stock is owned by institutional investors and hedge funds.

About FedEx

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.