FedEx Corporation (NYSE:FDX) Receives $350.54 Average PT from Brokerages

Shares of FedEx Corporation (NYSE:FDX) have been assigned an average recommendation of “Moderate Buy” from the thirty analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $350.5426.

Several research analysts have issued reports on the company. Bank of America upped their price target on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Truist Financial reduced their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. UBS Group decreased their target price on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Rothschild & Co Redburn cut their target price on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Finally, Citizens Jmp assumed coverage on FedEx in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price for the company.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management acquired a new position in FedEx in the 1st quarter worth approximately $25,000. Bayban acquired a new stake in FedEx during the 1st quarter valued at $26,000. Cedar Mountain Advisors LLC raised its stake in FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 41 shares during the period. EFG International AG purchased a new stake in shares of FedEx in the fourth quarter valued at $27,000. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of FedEx in the fourth quarter valued at $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX opened at $315.27 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The firm’s 50 day moving average is $339.44 and its 200-day moving average is $349.91. FedEx has a 12-month low of $172.88 and a 12-month high of $345.36. The stock has a market capitalization of $75.23 billion, a P/E ratio of 17.03, a P/E/G ratio of 1.58 and a beta of 1.29.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $22.19 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Equities research analysts anticipate that FedEx will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

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.