FedEx Corporation (FDX) Price Target Increased to $229.00 by Analysts at Oppenheimer Holdings, Inc.
FedEx Corporation (NYSE:FDX) had its price target lifted by analysts at Oppenheimer Holdings, Inc. from $218.00 to $229.00 in a note issued to investors on Thursday. The brokerage currently has an “outperform” rating on the shipping service provider’s stock. Oppenheimer Holdings, Inc.’s price objective points to a potential upside of 9.62% from the company’s current price.
Other analysts have also issued research reports about the company. Deutsche Bank AG set a $209.00 price objective on FedEx Corporation and gave the company a “buy” rating in a report on Saturday, March 18th. Vetr raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 target price for the company in a report on Wednesday, May 17th. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a report on Tuesday, May 23rd. ValuEngine raised FedEx Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, Seaport Global Securities initiated coverage on FedEx Corporation in a report on Tuesday, June 6th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the stock. FedEx Corporation presently has an average rating of “Buy” and an average target price of $210.13.
Shares of FedEx Corporation (FDX) traded down 0.28% on Thursday, hitting $208.32. The stock had a trading volume of 263,183 shares. The company’s 50-day moving average price is $195.37 and its 200 day moving average price is $192.48. The firm has a market cap of $55.70 billion, a P/E ratio of 29.62 and a beta of 1.28. FedEx Corporation has a 12-month low of $145.00 and a 12-month high of $210.65.
FedEx Corporation (NYSE:FDX) last announced its quarterly earnings data on Tuesday, March 21st. The shipping service provider reported $2.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.62 by $0.27. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $15 billion. FedEx Corporation had a net margin of 3.31% and a return on equity of 21.32%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.51 EPS. On average, equities research analysts forecast that FedEx Corporation will post $11.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 22nd will be given a $0.50 dividend. This is a positive change from FedEx Corporation’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a yield of 0.96%. The ex-dividend date is Tuesday, June 20th. FedEx Corporation’s dividend payout ratio is presently 22.70%.
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In other FedEx Corporation news, CEO Frederick W. Smith sold 135,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $189.02, for a total value of $25,517,700.00. Following the transaction, the chief executive officer now directly owns 15,326,133 shares of the company’s stock, valued at approximately $2,896,945,659.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Ducker sold 12,899 shares of the company’s stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $193.88, for a total value of $2,500,858.12. Following the completion of the transaction, the chief executive officer now directly owns 61,779 shares in the company, valued at $11,977,712.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,598 shares of company stock worth $37,347,615. Insiders own 8.67% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of FedEx Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after buying an additional 918,896 shares in the last quarter. BlackRock Inc. raised its position in shares of FedEx Corporation by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after buying an additional 14,086,601 shares in the last quarter. Dodge & Cox bought a new position in shares of FedEx Corporation during the fourth quarter worth approximately $2,151,429,000. State Street Corp raised its position in shares of FedEx Corporation by 4.2% in the fourth quarter. State Street Corp now owns 10,215,037 shares of the shipping service provider’s stock worth $1,902,048,000 after buying an additional 408,708 shares in the last quarter. Finally, FMR LLC raised its position in shares of FedEx Corporation by 7.0% in the fourth quarter. FMR LLC now owns 5,440,113 shares of the shipping service provider’s stock worth $1,012,949,000 after buying an additional 356,096 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.
About FedEx Corporation
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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