Oppenheimer Holdings Inc. Raises FedEx Co. (FDX) Price Target to $184.00
FedEx Co. (NYSE:FDX) had its price objective increased by investment analysts at Oppenheimer Holdings Inc. from $180.00 to $184.00 in a research note issued to investors on Wednesday. The brokerage currently has an “outperform” rating on the shipping service provider’s stock. Oppenheimer Holdings Inc.’s price target would suggest a potential upside of 13.13% from the stock’s current price.
FDX has been the topic of several other reports. Cowen and Company restated a “buy” rating and set a $180.00 price target on shares of FedEx in a report on Saturday, June 18th. Stifel Nicolaus restated a “buy” rating and set a $179.00 price target (up from $178.00) on shares of FedEx in a report on Wednesday, June 22nd. Morgan Stanley restated a “hold” rating on shares of FedEx in a report on Monday, June 6th. 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 report on Tuesday, August 2nd. Finally, Citigroup Inc. restated a “buy” rating and set a $200.00 price target on shares of FedEx in a report on Wednesday, June 22nd. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. FedEx presently has a consensus rating of “Buy” and a consensus target price of $175.85.
Shares of FedEx (NYSE:FDX) traded up 6.25% on Wednesday, hitting $172.81. 3,577,653 shares of the company’s stock were exchanged. FedEx has a 12 month low of $119.71 and a 12 month high of $173.40. The firm has a market cap of $45.89 billion, a P/E ratio of 26.55 and a beta of 1.35. The stock’s 50 day moving average is $164.16 and its 200 day moving average is $161.10.
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FedEx (NYSE:FDX) last released its quarterly 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. FedEx had a net margin of 3.61% and a return on equity of 20.62%. The business had revenue of $14.70 billion for the quarter. During the same quarter last year, the firm posted $2.42 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts predict 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 $0.40 dividend. 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 (DPR) is 24.84%.
In other news, Director John A. Edwardson sold 2,882 shares of the company’s stock in a transaction on 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 owns 29,090 shares of the company’s stock, valued at approximately $4,730,906.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert B. Carter sold 5,000 shares of the company’s stock in a transaction 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 directly owns 53,399 shares of the company’s stock, valued at approximately $8,784,669.49. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Ferguson Wellman Capital Management Inc. boosted its stake in shares of FedEx by 1.1% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 115,921 shares of the shipping service provider’s stock valued at $17,594,000 after buying an additional 1,230 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of FedEx by 2.0% in the first quarter. Legal & General Group Plc now owns 1,159,796 shares of the shipping service provider’s stock valued at $188,709,000 after buying an additional 22,819 shares during the last quarter. Southpoint Capital Advisors LP purchased a new stake in shares of FedEx during the first quarter valued at $90,607,000. Prudential PLC boosted its stake in shares of FedEx by 7.5% in the first quarter. Prudential PLC now owns 45,245 shares of the shipping service provider’s stock valued at $7,362,000 after buying an additional 3,163 shares during the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of FedEx by 2.1% in the second quarter. Trust Co. of Vermont now owns 13,697 shares of the shipping service provider’s stock valued at $2,079,000 after buying an additional 278 shares during the last quarter. 73.78% of the stock is owned by institutional investors.
FedEx 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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