FedEx (NYSE:FDX) Stock Rating Reaffirmed by Stephens

Stephens reiterated their overweight rating on shares of FedEx (NYSE:FDX) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $350.00 price target on the shipping service provider’s stock.

Other analysts also recently issued reports about the stock. Robert W. Baird cut their price target on shares of FedEx from $340.00 to $320.00 and set an outperform rating on the stock in a research report on Friday. Daiwa America downgraded shares of FedEx from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. Stifel Nicolaus cut their price target on shares of FedEx from $327.00 to $321.00 and set a buy rating on the stock in a research report on Friday. Raymond James cut their price target on shares of FedEx from $335.00 to $330.00 and set a buy rating on the stock in a research report on Friday. Finally, Bank of America cut their price target on shares of FedEx from $347.00 to $345.00 and set a buy rating on the stock in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $314.74.

FedEx Stock Performance

FedEx stock opened at $258.82 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84. The company has a market cap of $63.69 billion, a PE ratio of 15.02, a PEG ratio of 1.03 and a beta of 1.17. The company’s 50-day moving average is $291.50 and its two-hundred day moving average is $275.28.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the company posted $4.55 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts anticipate that FedEx will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.13%. FedEx’s dividend payout ratio is presently 32.04%.

Insider Activity

In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now owns 14,745 shares in the company, valued at $4,345,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by company insiders.

Institutional Trading of FedEx

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Capital International Investors grew its position in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares in the last quarter. Putnam Investments LLC increased its stake in FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after acquiring an additional 798,084 shares during the period. Mawer Investment Management Ltd. raised its holdings in FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after acquiring an additional 684,679 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 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.