Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus cut FedEx from a buy rating to a hold rating and reduced their price objective for the stock from $288.00 to $195.00 in a report on Friday, September 16th. Cowen decreased their price objective on FedEx from $310.00 to $230.00 and set an outperform rating for the company in a report on Friday, September 16th. Robert W. Baird cut their price objective on FedEx from $300.00 to $240.00 and set an outperform rating for the company in a research report on Friday, September 16th. Evercore ISI lowered their target price on shares of FedEx from $318.00 to $243.00 and set an outperform rating on the stock in a research report on Friday, September 16th. Finally, Citigroup cut their price target on shares of FedEx from $225.00 to $180.00 and set a neutral rating for the company in a research note on Friday, September 16th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $238.30.
FedEx Trading Down 3.4 %
Shares of NYSE:FDX opened at $157.40 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $40.91 billion, a PE ratio of 11.01, a PEG ratio of 0.58 and a beta of 1.21. The business has a 50 day moving average of $219.92 and a two-hundred day moving average of $217.63. FedEx has a 12-month low of $155.00 and a 12-month high of $266.79.
FedEx Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a $1.15 dividend. The ex-dividend date is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.92%. FedEx’s dividend payout ratio (DPR) is currently 32.17%.
Insider Buying and Selling
In other FedEx news, Director Vincenzo J. Vena bought 900 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The stock was purchased at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the completion of the purchase, the director now owns 1,325 shares of the company’s stock, valued at approximately $304,803. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Vincenzo J. Vena purchased 900 shares of the company’s stock in a transaction dated Wednesday, July 6th. The shares were acquired at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the transaction, the director now owns 1,325 shares of the company’s stock, valued at $304,803. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amy B. Lane acquired 607 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was acquired at an average cost of $228.12 per share, with a total value of $138,468.84. Following the completion of the acquisition, the director now directly owns 686 shares in the company, valued at $156,490.32. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 48,810 shares of company stock valued at $11,199,898. 8.62% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Activest Wealth Management grew its holdings in FedEx by 121.6% during the 2nd quarter. Activest Wealth Management now owns 113 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 62 shares during the period. Holloway Wealth Management LLC bought a new stake in shares of FedEx in the 1st quarter valued at about $29,000. American National Bank grew its stake in FedEx by 206.7% in the 2nd quarter. American National Bank now owns 138 shares of the shipping service provider’s stock valued at $31,000 after buying an additional 93 shares during the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of FedEx during the 1st quarter worth approximately $35,000. Finally, Byrne Asset Management LLC acquired a new position in shares of FedEx during the 4th quarter worth approximately $36,000. Institutional investors own 71.62% of the company’s stock.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.
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