FedEx Corp. (FDX) Rating Reiterated by Barclays PLC
FedEx Corp. (NYSE:FDX)‘s stock had its “buy” rating restated by stock analysts at Barclays PLC in a research report issued on Monday. They presently have a $205.00 price target on the shipping service provider’s stock. Barclays PLC’s price target indicates a potential upside of 18.05% from the stock’s current price.
The analysts wrote, “The market is anticipating Tom Dooley’s strategic plan, which should signal a clear shift from the Dauman era. We continue to believe that a transaction in the NT which involves all of VIAB is unlikely, but expect the board to explore other avenues to address key concerns. Assuming the sale of a stake in Paramount is off the table for now, and that the dividend will be cut by at least 50%, the stock could come under further pressure in the NT. Looking to Remove the Interim” Title: Our assumption is that interim CEO Dooley will be named CEO by the end of the month.””
A number of other analysts have also commented on FDX. Sanford C. Bernstein reiterated a “hold” rating on shares of FedEx Corp. in a research note on Thursday, May 26th. Zacks Investment Research lowered shares of FedEx Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 30th. Stifel Nicolaus boosted their target price on shares of FedEx Corp. from $174.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, June 2nd. Oppenheimer Holdings Inc. restated a “buy” rating on shares of FedEx Corp. in a research report on Monday, June 6th. Finally, Morgan Stanley restated a “hold” rating on shares of FedEx Corp. in a research report on Monday, June 6th. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $175.85.
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Shares of FedEx Corp. (NYSE:FDX) traded down 0.12% during trading on Monday, hitting $173.66. 3,176,147 shares of the stock were exchanged. The stock has a market cap of $46.11 billion, a PE ratio of 26.68 and a beta of 1.35. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $175.38. The firm has a 50 day moving average of $164.57 and a 200-day moving average of $161.19.
FedEx Corp. (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.56%. The firm earned $14.70 billion during the quarter. During the same quarter in the prior year, the firm earned $2.42 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts anticipate that FedEx Corp. will post $12.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s payout ratio is presently 23.99%.
In related news, Director John A. Edwardson sold 2,882 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $162.63, for a total value of $468,699.66. Following the completion of the sale, the director now directly owns 29,090 shares of the company’s stock, valued at $4,730,906.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $164.51, for a total transaction of $822,550.00. Following the completion of the sale, the executive vice president now directly owns 53,399 shares of the company’s stock, valued at $8,784,669.49. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. QUANTRES ASSET MANAGEMENT Ltd raised its stake in FedEx Corp. by 457.9% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 10,600 shares of the shipping service provider’s stock valued at $1,725,000 after buying an additional 8,700 shares during the last quarter. Private Trust Co. NA raised its stake in FedEx Corp. by 10.5% in the first quarter. Private Trust Co. NA now owns 7,463 shares of the shipping service provider’s stock valued at $1,214,000 after buying an additional 712 shares during the last quarter. Country Trust Bank raised its stake in FedEx Corp. by 2.7% in the first quarter. Country Trust Bank now owns 195,685 shares of the shipping service provider’s stock valued at $31,842,000 after buying an additional 5,093 shares during the last quarter. McQueen Ball & Associates Inc. purchased a new stake in FedEx Corp. during the first quarter valued at approximately $556,000. Finally, Wagner Bowman Management Corp raised its stake in FedEx Corp. by 20.3% in the first quarter. Wagner Bowman Management Corp now owns 6,667 shares of the shipping service provider’s stock valued at $1,084,000 after buying an additional 1,125 shares during the last quarter. 73.78% of the stock is owned by institutional investors.
FedEx Corp. Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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