FedEx (NYSE:FDX) Earns Market Outperform Rating from Analysts at Citizens Jmp

Citizens Jmp started coverage on shares of FedEx (NYSE:FDX) in a report published on Wednesday, Marketbeat reports. The firm issued a market outperform rating and a $375.00 price target on the shipping service provider’s stock.

A number of other research analysts also recently issued reports on the stock. Seaport Research Partners began coverage on shares of FedEx in a research report on Wednesday, May 27th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft downgraded FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. TD Cowen reduced their price objective on FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Argus boosted their price objective on FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, April 6th. Finally, BNP Paribas Exane decreased their price objective on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Stock Performance

FDX opened at $313.17 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx has a 12-month low of $172.88 and a 12-month high of $345.36. The firm has a 50 day moving average of $342.12 and a two-hundred day moving average of $349.22. The firm has a market capitalization of $74.72 billion, a PE ratio of 16.92, a P/E/G ratio of 1.98 and a beta of 1.29.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating the consensus estimate of $5.91 by $0.40. The business had revenue of $25.01 billion for the quarter, compared to the consensus estimate of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, analysts anticipate that FedEx will post 14.54 EPS for the current year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a dividend of $1.22 per share. 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 1.6%. FedEx’s dividend payout ratio is 26.36%.

Insider Buying and Selling

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

Institutional Investors Weigh In On FedEx

A number of institutional investors have recently modified their holdings of FDX. Sivia Capital Partners LLC acquired a new position in shares of FedEx during the 2nd quarter worth about $586,000. CWM LLC raised its position in shares of FedEx by 32.2% during the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after acquiring an additional 26,322 shares in the last quarter. Canada Post Corp Registered Pension Plan raised its position in shares of FedEx by 85.9% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after acquiring an additional 3,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in FedEx by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock worth $12,081,000 after purchasing an additional 6,864 shares during the last quarter. Finally, North Dakota State Investment Board purchased a new stake in FedEx during the fourth quarter worth approximately $2,122,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.