FedEx (NYSE:FDX) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx (NYSE:FDX) in a research note published on Friday, MarketBeat Ratings reports. The firm issued a buy rating and a $337.00 price target on the shipping service provider’s stock.

A number of other research analysts have also weighed in on the company. TD Cowen increased their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Piper Sandler downgraded FedEx to a “neutral” rating in a research note on Monday, February 3rd. Stephens lowered their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. BMO Capital Markets upped their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and lowered their target price for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $318.58.

FedEx Price Performance

FDX opened at $253.80 on Friday. FedEx has a 52-week low of $242.92 and a 52-week high of $313.84. The stock has a market cap of $61.13 billion, a P/E ratio of 16.18, a PEG ratio of 1.11 and a beta of 1.23. The business has a fifty day moving average of $266.55 and a 200 day moving average of $276.07. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $3.99 EPS. As a group, sell-side analysts anticipate that FedEx will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

Insider Transactions at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI boosted its stake in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after acquiring an additional 38 shares in the last quarter. Regal Investment Advisors LLC lifted its stake in FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after buying an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after buying an additional 39 shares in the last quarter. Harbour Investments Inc. lifted its stake in FedEx by 1.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after buying an additional 40 shares in the last quarter. Finally, Cetera Trust Company N.A lifted its stake in FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

About FedEx

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.