FedEx Corporation (FDX) Now Covered by KeyCorp
Equities research analysts at KeyCorp assumed coverage on shares of FedEx Corporation (NYSE:FDX) in a report released on Tuesday, The Fly reports. The brokerage set an “overweight” rating on the shipping service provider’s stock.
A number of other analysts have also issued reports on FDX. Stifel Nicolaus increased their target price on FedEx Corporation from $194.00 to $216.00 and gave the company a “hold” rating in a report on Monday, June 12th. Vetr lowered FedEx Corporation from a “hold” rating to a “sell” rating and set a $202.23 target price for the company. in a report on Tuesday, June 13th. Oppenheimer Holdings, Inc. increased their target price on FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a report on Thursday, June 15th. CIBC increased their target price on FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a report on Thursday, June 15th. Finally, UBS AG restated a “buy” rating and issued a $235.00 target price (up previously from $215.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. FedEx Corporation currently has an average rating of “Buy” and an average price target of $225.71.
FedEx Corporation (NYSE FDX) traded up 0.06% during trading on Tuesday, reaching $220.78. The company had a trading volume of 694,114 shares. The company has a 50-day moving average price of $215.86 and a 200 day moving average price of $205.29. FedEx Corporation has a 52-week low of $168.00 and a 52-week high of $227.00. The stock has a market cap of $59.20 billion, a PE ratio of 20.81 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. FedEx Corporation’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.90 EPS. On average, analysts anticipate that FedEx Corporation will post $12.47 earnings per share for the current year.
In other news, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at $6,709,780. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John A. Edwardson sold 2,208 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the sale, the director now directly owns 30,608 shares in the company, valued at $6,370,749.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,172 shares of company stock worth $6,039,193. 8.45% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Assetmark acquired a new stake in shares of FedEx Corporation in the third quarter valued at about $0. FNY Managed Accounts LLC acquired a new stake in shares of FedEx Corporation in the first quarter valued at about $100,000. Alexandria Capital LLC grew its position in shares of FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after purchasing an additional 11 shares during the last quarter. Mycio Wealth Partners LLC grew its position in shares of FedEx Corporation by 21.1% in the third quarter. Mycio Wealth Partners LLC now owns 597 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 104 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its position in shares of FedEx Corporation by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares during the last quarter. 75.89% of the stock is currently owned by institutional investors.
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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