FedEx (NYSE:FDX) Reaches New 52-Week High at $305.39

FedEx Co. (NYSE:FDX) shares reached a new 52-week high on Monday . The company traded as high as $305.39 and last traded at $304.33, with a volume of 548968 shares changing hands. The stock had previously closed at $299.02.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and raised their price target for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. Morgan Stanley lifted their target price on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Argus lifted their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. TD Cowen lifted their target price on shares of FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Robert W. Baird lifted their target price on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Stock Up 1.8 %

The firm’s 50 day moving average price is $264.27 and its two-hundred day moving average price is $258.66. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $74.90 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter last year, the firm posted $4.94 EPS. FedEx’s revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 1.81%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

FedEx declared that its board has initiated a share buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marvin R. Ellison sold 2,535 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $299.34, for a total transaction of $758,826.90. Following the completion of the transaction, the director now directly owns 6,955 shares in the company, valued at $2,081,909.70. The disclosure for this sale can be found here. Insiders have sold 22,565 shares of company stock valued at $6,662,844 in the last three months. 8.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FedEx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Coastline Trust Co increased its position in shares of FedEx by 1.0% during the second quarter. Coastline Trust Co now owns 4,229 shares of the shipping service provider’s stock valued at $1,268,000 after buying an additional 40 shares during the period. Czech National Bank boosted its stake in FedEx by 6.7% in the second quarter. Czech National Bank now owns 43,142 shares of the shipping service provider’s stock worth $12,936,000 after buying an additional 2,691 shares in the last quarter. Oak Asset Management LLC boosted its stake in FedEx by 0.3% in the second quarter. Oak Asset Management LLC now owns 20,679 shares of the shipping service provider’s stock worth $6,200,000 after buying an additional 55 shares in the last quarter. Allied Investment Advisors LLC boosted its stake in shares of FedEx by 1.2% during the second quarter. Allied Investment Advisors LLC now owns 40,358 shares of the shipping service provider’s stock valued at $12,101,000 after purchasing an additional 460 shares during the period. Finally, FSM Wealth Advisors LLC boosted its stake in shares of FedEx by 52.3% during the second quarter. FSM Wealth Advisors LLC now owns 1,071 shares of the shipping service provider’s stock valued at $321,000 after purchasing an additional 368 shares during the period. 84.47% of the stock is currently owned by institutional investors.

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.