FedEx (NYSE:FDX) Stock Price Up 1.1% on Analyst Upgrade

FedEx Co. (NYSE:FDX)’s stock price rose 1.1% on Monday after Bernstein Bank raised their price target on the stock from $305.00 to $337.00. Bernstein Bank currently has an overweight rating on the stock. FedEx traded as high as $259.44 and last traded at $257.43. Approximately 1,172,594 shares were traded during trading, a decline of 37% from the average daily volume of 1,852,357 shares. The stock had previously closed at $254.64.

Other equities analysts have also issued research reports about the stock. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Friday, September 20th. Evercore ISI dropped their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $327.00 price target (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.74.

Insider Transactions at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,944 shares of company stock worth $9,882,355. Insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC boosted its holdings in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $25,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter valued at about $39,000. Security National Bank bought a new stake in shares of FedEx in the 4th quarter valued at about $44,000. Finally, Abound Wealth Management boosted its holdings in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Up 3.2 %

The firm has a market capitalization of $65.75 billion, a P/E ratio of 15.51, a PEG ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The business’s fifty day moving average price is $290.58 and its two-hundred day moving average price is $275.42.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.55 earnings per share. Equities analysts expect that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

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.