FedEx Corp. (FDX) Given New $186.00 Price Target at Stifel Nicolaus
FedEx Corp. (NYSE:FDX) had its price objective upped by equities research analysts at Stifel Nicolaus from $179.00 to $186.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 14.36% from the company’s previous close.
Several other research analysts have also recently weighed in on the company. Wolfe Research upgraded FedEx Corp. from a “market perform” rating to an “outperform” rating in a report on Friday, July 1st. Cowen and Company restated a “market perform” rating and set a $110.00 target price on shares of FedEx Corp. in a report on Sunday, July 31st. Zacks Investment Research cut FedEx Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 23rd. Vetr cut FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 target price on the stock. in a report on Monday, August 8th. Finally, Bank of America Corp. restated a “buy” rating on shares of FedEx Corp. in a report on Thursday, June 16th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $174.97.
FedEx Corp. (NYSE:FDX) opened at 162.65 on Wednesday. FedEx Corp. has a 12-month low of $119.71 and a 12-month high of $169.57. The firm’s 50-day moving average price is $164.16 and its 200 day moving average price is $161.10. The stock has a market capitalization of $43.19 billion, a P/E ratio of 24.98 and a beta of 1.35.
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FedEx Corp. (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.12. FedEx Corp. had a return on equity of 20.62% and a net margin of 3.61%. The company earned $14.70 billion during the quarter. During the same quarter last year, the firm posted $2.42 earnings per share. FedEx Corp.’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts anticipate that FedEx Corp. will post $11.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, September 8th. FedEx Corp.’s payout ratio is 24.84%.
In other FedEx Corp. news, CEO Michael L. Ducker sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $158.43, for a total transaction of $792,150.00. Following the transaction, the chief executive officer now owns 56,265 shares of the company’s stock, valued at $8,914,063.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alan B. Graf, Jr. sold 7,400 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $159.43, for a total value of $1,179,782.00. Following the transaction, the executive vice president now directly owns 150,665 shares in the company, valued at approximately $24,020,520.95. The disclosure for this sale can be found here. Company insiders own 8.67% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Primecap Management Co. CA raised its position in shares of FedEx Corp. by 9.3% in the first quarter. Primecap Management Co. CA now owns 16,116,764 shares of the shipping service provider’s stock valued at $2,622,520,000 after buying an additional 1,371,175 shares during the last quarter. Dodge & Cox raised its position in shares of FedEx Corp. by 0.6% in the first quarter. Dodge & Cox now owns 12,389,882 shares of the shipping service provider’s stock valued at $2,016,082,000 after buying an additional 78,290 shares during the last quarter. Wellington Management Group LLP raised its position in shares of FedEx Corp. by 50.9% in the first quarter. Wellington Management Group LLP now owns 8,540,880 shares of the shipping service provider’s stock valued at $1,389,772,000 after buying an additional 2,881,893 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of FedEx Corp. by 0.3% in the second quarter. Canada Pension Plan Investment Board now owns 3,146,806 shares of the shipping service provider’s stock valued at $477,622,000 after buying an additional 9,900 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of FedEx Corp. by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 2,989,163 shares of the shipping service provider’s stock valued at $453,713,000 after buying an additional 9,606 shares during the last quarter. 73.78% of the stock is currently owned by institutional investors.
About FedEx Corp.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services under the FedEx brand. The Company offers its services through companies constituting four business segments: FedEx Express, FedEx Ground, FedEx Freight and FedEx Services. FedEx Express offers a range of domestic and international shipping services for delivery of packages and freight.
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