FedEx Co. (FDX) Receives Consensus Rating of “Buy” from Analysts
FedEx Co. (NYSE:FDX) has earned an average rating of “Buy” from the twenty-eight analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $272.56.
Several equities research analysts recently issued reports on the company. Wells Fargo & Co lifted their price objective on FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Bank of America reiterated a “buy” rating and issued a $315.00 price objective on shares of FedEx in a report on Friday. Stifel Nicolaus reiterated a “hold” rating and issued a $221.00 price objective (up from $216.00) on shares of FedEx in a report on Wednesday, September 20th. Loop Capital reiterated a “buy” rating and issued a $260.00 price objective (up from $250.00) on shares of FedEx in a report on Wednesday, September 20th. Finally, Citigroup lifted their price objective on FedEx to $275.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th.
Shares of FedEx (FDX) opened at $271.85 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. FedEx has a twelve month low of $182.89 and a twelve month high of $271.90. The stock has a market capitalization of $72,825.79, a PE ratio of 25.06, a P/E/G ratio of 1.62 and a beta of 1.36.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, December 8th. FedEx’s dividend payout ratio (DPR) is 18.43%.
In other FedEx news, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the transaction, the director now directly owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the transaction, the insider now directly owns 36,747 shares in the company, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders sold a total of 68,671 shares of company stock worth $17,137,160 over the last three months. Corporate insiders own 8.45% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. raised its position in shares of FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after buying an additional 13 shares during the period. Krilogy Financial LLC raised its position in shares of FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the period. Financial Engines Advisors L.L.C. purchased a new stake in shares of FedEx during the 3rd quarter valued at approximately $132,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of FedEx during the 3rd quarter valued at approximately $136,000. Finally, Carroll Financial Associates Inc. raised its position in shares of FedEx by 61.1% during the 3rd quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock valued at $140,000 after buying an additional 240 shares during the period. 75.69% of the stock is currently owned by hedge funds and other institutional investors.
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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