FedEx (NYSE:FDX) Now Covered by Analysts at Citizens Jmp

Citizens Jmp initiated coverage on shares of FedEx (NYSE:FDX) in a report issued on Wednesday, Marketbeat.com reports. The firm issued a market outperform rating and a $375.00 price objective on the shipping service provider’s stock.

FDX has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft cut FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Seaport Research Partners started coverage on shares of FedEx in a research report on Wednesday, May 27th. They issued a “buy” rating for the company. Evercore set a $165.00 price target on shares of FedEx in a research note on Friday, June 26th. Rothschild & Co Redburn lowered their price target on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Finally, Weiss Ratings cut shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx Trading Down 0.0%

Shares of FDX stock opened at $313.52 on Wednesday. FedEx has a 12-month low of $172.88 and a 12-month high of $345.36. The firm has a 50 day moving average price of $344.56 and a two-hundred day moving average price of $349.32. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $74.81 billion, a PE ratio of 16.94 and a beta of 1.29.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.91 by $0.40. The company had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio is 26.36%.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently bought and sold shares of the company. State Street Corp boosted its position in shares of FedEx by 4.2% during the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after acquiring an additional 382,848 shares in the last quarter. Franklin Resources Inc. increased its stake in FedEx by 6.6% in the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after acquiring an additional 318,293 shares during the last quarter. Geode Capital Management LLC raised its position in FedEx by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after purchasing an additional 45,818 shares in the last quarter. Invesco Ltd. lifted its stake in FedEx by 3.1% during the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after purchasing an additional 108,426 shares during the last quarter. Finally, Norges Bank bought a new stake in FedEx during the fourth quarter worth $859,085,000. 84.47% of the stock is owned by institutional investors.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.