FedEx (NYSE:FDX – Free Report) had its price objective boosted by Evercore ISI from $275.00 to $276.00 in a report issued on Monday morning, Marketbeat.com reports. Evercore ISI currently has an outperform rating on the shipping service provider’s stock.
Other equities analysts have also recently issued reports about the company. StockNews.com initiated coverage on FedEx in a research note on Thursday, August 17th. They set a buy rating on the stock. Sanford C. Bernstein raised their price objective on FedEx from $261.00 to $284.00 in a research note on Wednesday, June 21st. Argus raised their target price on FedEx from $240.00 to $260.00 in a research note on Monday, June 26th. UBS Group raised their target price on FedEx from $272.00 to $312.00 in a research note on Friday, September 1st. Finally, Atlantic Securities began coverage on FedEx in a research note on Tuesday, June 6th. They issued an overweight rating and a $265.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $254.30.
FedEx Stock Performance
FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.85 by $0.09. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.55 billion. During the same period last year, the business posted $6.87 earnings per share. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts forecast that FedEx will post 17.37 EPS for the current year.
FedEx Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $1.26 per share. The ex-dividend date is Friday, September 8th. This represents a $5.04 dividend on an annualized basis and a yield of 2.02%. FedEx’s payout ratio is presently 32.52%.
Insiders Place Their Bets
In other FedEx news, EVP Michael C. Lenz sold 5,745 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the completion of the sale, the executive vice president now directly owns 22,478 shares in the company, valued at approximately $5,886,538.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Robert B. Carter sold 19,270 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $246.00, for a total value of $4,740,420.00. Following the completion of the sale, the executive vice president now directly owns 58,875 shares in the company, valued at approximately $14,483,250. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael C. Lenz sold 5,745 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $261.88, for a total value of $1,504,500.60. Following the transaction, the executive vice president now owns 22,478 shares of the company’s stock, valued at $5,886,538.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,816 shares of company stock worth $8,822,147. 8.73% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of FedEx by 97,178.0% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 209,510,584 shares of the shipping service provider’s stock valued at $51,937,674,000 after purchasing an additional 209,295,211 shares in the last quarter. BlackRock Inc. raised its stake in shares of FedEx by 2.0% in the second quarter. BlackRock Inc. now owns 16,155,472 shares of the shipping service provider’s stock valued at $4,004,941,000 after purchasing an additional 313,917 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,234,930 shares of the shipping service provider’s stock valued at $732,448,000 after purchasing an additional 35,946 shares in the last quarter. Morgan Stanley raised its stake in shares of FedEx by 19.6% in the fourth quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock valued at $591,124,000 after purchasing an additional 559,607 shares in the last quarter. Finally, FMR LLC raised its stake in shares of FedEx by 17.2% in the first quarter. FMR LLC now owns 3,354,802 shares of the shipping service provider’s stock valued at $766,539,000 after purchasing an additional 491,207 shares in the last quarter. 73.61% of the stock is currently owned by institutional investors and hedge funds.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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