FedEx’s (FDX) Buy Rating Reaffirmed at Truist Financial

Truist Financial restated their buy rating on shares of FedEx (NYSE:FDX) in a research note released on Wednesday,Benzinga reports. The firm currently has a $275.00 target price on the shipping service provider’s stock.

A number of other equities analysts have also recently weighed in on FDX. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and decreased their price target for the stock from $300.00 to $275.00 in a report on Monday, March 24th. TD Cowen cut their target price on FedEx from $310.00 to $269.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James Financial cut their target price on FedEx from $275.00 to $260.00 and set an “outperform” rating on the stock in a research report on Wednesday. Loop Capital lowered FedEx from a “hold” rating to a “sell” rating and cut their target price for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Finally, Sanford C. Bernstein cut their target price on FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a research report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $285.75.

FedEx Stock Down 3.2%

NYSE FDX opened at $222.07 on Wednesday. The stock has a market cap of $53.21 billion, a PE ratio of 13.16, a P/E/G ratio of 1.15 and a beta of 1.35. FedEx has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The business has a 50 day moving average price of $219.48 and a two-hundred day moving average price of $243.71. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $21.86 billion. FedEx had a return on equity of 16.54% and a net margin of 4.65%. During the same quarter in the prior year, the business earned $5.41 EPS. As a group, sell-side analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a $1.45 dividend. The ex-dividend date is Monday, June 23rd. This is a positive change from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.61%. FedEx’s dividend payout ratio (DPR) is currently 36.39%.

Institutional Investors Weigh In On FedEx

Several large investors have recently added to or reduced their stakes in the stock. Regal Investment Advisors LLC increased its position in FedEx by 2.4% in the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after buying an additional 38 shares during the period. Aviso Financial Inc. increased its position in FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after buying an additional 40 shares during the period. Garner Asset Management Corp increased its position in FedEx by 0.7% in the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock worth $1,659,000 after buying an additional 41 shares during the period. Curi RMB Capital LLC increased its position in FedEx by 1.3% in the fourth quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider’s stock worth $1,017,000 after buying an additional 47 shares during the period. Finally, Aaron Wealth Advisors LLC increased its position in FedEx by 2.6% in the first quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider’s stock worth $457,000 after buying an additional 48 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

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.