FedEx Co. (FDX) Receives Top Pick Rating from Barclays PLC
FedEx Co. (NYSE:FDX)‘s stock had its “top pick” rating restated by equities researchers at Barclays PLC in a report released on Wednesday.
Several other brokerages also recently weighed in on FDX. Sanford C. Bernstein set a $159.00 target price on shares of FedEx and gave the stock a “neutral” rating in a report on Wednesday. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of FedEx in a report on Monday, June 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of FedEx in a research note on Thursday, June 16th. Robert W. Baird reiterated a “buy” rating and issued a $176.00 price target on shares of FedEx in a research note on Thursday, June 23rd. Finally, Vetr upgraded shares of FedEx from a “buy” rating to a “strong-buy” rating and set a $179.94 price target on the stock in a research note on Monday, July 25th. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $175.85.
FedEx (NYSE:FDX) traded up 7.0886% during mid-day trading on Wednesday, hitting $174.1796. The company had a trading volume of 4,824,643 shares. FedEx has a 1-year low of $119.71 and a 1-year high of $174.32. The stock has a 50 day moving average price of $164.16 and a 200-day moving average price of $161.10. The stock has a market capitalization of $46.25 billion, a PE ratio of 26.7557 and a beta of 1.35.
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FedEx (NYSE:FDX) last issued its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.09. The company earned $14.70 billion during the quarter. FedEx had a net margin of 3.61% and a return on equity of 20.62%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 EPS. On average, analysts forecast that FedEx will post $11.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.98%. FedEx’s dividend payout ratio is presently 24.84%.
In related news, EVP Robert B. Carter sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were 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 owns 53,399 shares of the company’s stock, valued at $8,784,669.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alan B. Graf, Jr. sold 7,400 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $159.43, for a total transaction of $1,179,782.00. Following the sale, the executive vice president now directly owns 150,665 shares of the company’s stock, valued at approximately $24,020,520.95. The disclosure for this sale can be found here. Insiders own 8.67% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Delta Capital Management LLC purchased a new stake in FedEx during the first quarter worth approximately $2,996,000. Kelman Lazarov Inc. purchased a new stake in FedEx during the first quarter worth approximately $4,560,000. Benin Management CORP boosted its stake in FedEx by 3.6% in the first quarter. Benin Management CORP now owns 27,434 shares of the shipping service provider’s stock worth $4,464,000 after buying an additional 964 shares during the last quarter. FirstMerit Bank N A Trustee boosted its stake in FedEx by 7.5% in the first quarter. FirstMerit Bank N A Trustee now owns 1,622 shares of the shipping service provider’s stock worth $264,000 after buying an additional 113 shares during the last quarter. Finally, Howard Capital Management boosted its stake in FedEx by 3.1% in the first quarter. Howard Capital Management now owns 76,432 shares of the shipping service provider’s stock worth $12,437,000 after buying an additional 2,291 shares during the last quarter. 73.78% of the stock is owned by institutional investors.
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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