FedEx (NYSE:FDX) Upgraded at StockNews.com

StockNews.com upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a research note published on Saturday morning.

FDX has been the subject of several other reports. Bernstein Bank lifted their target price on FedEx from $305.00 to $337.00 and gave the company an overweight rating in a research report on Friday, September 20th. TD Cowen decreased their target price on FedEx from $334.00 to $328.00 and set a buy rating for the company in a research note on Friday, September 20th. BMO Capital Markets reduced their price objective on FedEx from $325.00 to $300.00 and set a market perform rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on FedEx from $359.00 to $350.00 and set an overweight rating for the company in a research note on Friday, September 20th. Finally, Raymond James reduced their price objective on FedEx from $335.00 to $330.00 and set a buy rating for the company in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $314.74.

FedEx Stock Up 2.2 %

Shares of NYSE:FDX opened at $273.53 on Friday. The business has a 50-day moving average price of $287.38 and a 200 day moving average price of $275.80. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $67.31 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.04 and a beta of 1.17. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’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 posted $4.55 earnings per share. Sell-side analysts expect that FedEx will post 19.66 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Insiders Place Their Bets

In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold a total of 13,030 shares of company stock valued at $4,013,050 in the last quarter. Insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares during the period. Capital International Investors grew its stake in FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Putnam Investments LLC increased its position in FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in shares of FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. 84.47% of the stock is currently 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.