Vetr Inc. Upgrades FedEx Corp. (FDX) to Strong-Buy
FedEx Corp. (NYSE:FDX) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $179.94 price objective on the shipping service provider’s stock. Vetr‘s price target would indicate a potential upside of 5.24% from the company’s previous close.
Several other research firms have also recently weighed in on FDX. Zacks Investment Research cut shares of FedEx Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. Barclays PLC raised shares of FedEx Corp. from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $175.00 to $205.00 in a research note on Wednesday, May 4th. Stifel Nicolaus increased their price objective on shares of FedEx Corp. from $174.00 to $178.00 and gave the stock a “buy” rating in a research report on Thursday, June 2nd. Royal Bank Of Canada increased their price objective on shares of FedEx Corp. from $158.00 to $174.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 22nd. Finally, Robert W. Baird increased their price objective on shares of FedEx Corp. from $172.00 to $176.00 in a research report on Monday, April 4th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. FedEx Corp. currently has a consensus rating of “Buy” and a consensus price target of $176.59.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.02% during trading on Monday, reaching $170.98. 803,571 shares of the company were exchanged. The stock has a market capitalization of $45.44 billion, a P/E ratio of 25.57 and a beta of 1.28. The firm has a 50-day moving average price of $168.72 and a 200-day moving average price of $163.66. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $177.36.
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FedEx Corp. (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The business earned $14.70 billion during the quarter. During the same period last year, the company earned $2.42 EPS. The business’s quarterly revenue was up 19.5% on a year-over-year basis. Equities research analysts predict that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Thursday, September 8th. FedEx Corp.’s payout ratio is 23.99%.
In other news, CEO Michael L. Ducker sold 5,000 shares of FedEx Corp. stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $158.43, for a total value of $792,150.00. Following the sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Edwardson sold 2,882 shares of FedEx Corp. stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $162.63, for a total transaction of $468,699.66. Following the completion of the sale, the director now directly owns 29,090 shares in the company, valued at approximately $4,730,906.70. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of FDX. Gamco Investors INC. ET AL increased its stake in shares of FedEx Corp. by 38.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 19,770 shares of the shipping service provider’s stock valued at $2,946,000 after buying an additional 5,440 shares during the last quarter. Gabelli Funds LLC increased its stake in shares of FedEx Corp. by 22.6% in the fourth quarter. Gabelli Funds LLC now owns 55,900 shares of the shipping service provider’s stock valued at $8,329,000 after buying an additional 10,300 shares during the last quarter. Boston Partners purchased a new stake in shares of FedEx Corp. during the fourth quarter valued at $36,287,000. Pettyjohn Wood & White Inc. increased its stake in shares of FedEx Corp. by 17.0% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 13,263 shares of the shipping service provider’s stock valued at $1,976,000 after buying an additional 1,930 shares during the last quarter. Finally, Ray Gerald L & Associates Ltd. increased its stake in shares of FedEx Corp. by 2.5% in the fourth quarter. Ray Gerald L & Associates Ltd. now owns 20,334 shares of the shipping service provider’s stock valued at $3,030,000 after buying an additional 500 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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