FedEx Corp. (FDX) Stock Rating Lowered by Vetr Inc.
FedEx Corp. (NYSE:FDX) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They presently have a $199.16 price target on the shipping service provider’s stock. Vetr‘s price target would indicate a potential upside of 4.64% from the stock’s current price.
FDX has been the subject of several other research reports. Deutsche Bank AG began coverage on FedEx Corp. in a report on Thursday, November 24th. They set a “buy” rating for the company. BMO Capital Markets began coverage on FedEx Corp. in a report on Thursday, November 17th. They set a “market perform” rating and a $190.00 price objective for the company. Oppenheimer Holdings Inc. increased their price objective on FedEx Corp. from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, September 21st. Stifel Nicolaus increased their price objective on FedEx Corp. from $179.00 to $186.00 and gave the company a “buy” rating in a report on Wednesday, September 21st. Finally, Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a report on Thursday, September 22nd. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. FedEx Corp. currently has a consensus rating of “Buy” and a consensus price target of $179.22.
FedEx Corp. (NYSE:FDX) opened at 190.32 on Monday. The company’s 50-day moving average price is $178.23 and its 200 day moving average price is $166.91. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $191.84. The stock has a market capitalization of $50.58 billion, a P/E ratio of 28.47 and a beta of 1.14.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, beating the consensus estimate of $2.81 by $0.09. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The firm earned $14.70 billion during the quarter. During the same quarter in the prior year, the company posted $2.42 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts predict that FedEx Corp. will post $12.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, December 8th. FedEx Corp.’s dividend payout ratio (DPR) is 23.99%.
In other FedEx Corp. news, insider Henry J. Maier sold 5,213 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $176.65, for a total value of $920,876.45. Following the transaction, the insider now directly owns 27,720 shares of the company’s stock, valued at approximately $4,896,738. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John L. Merino sold 10,280 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $181.72, for a total transaction of $1,868,081.60. Following the completion of the transaction, the vice president now directly owns 29,722 shares in the company, valued at $5,401,081.84. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC raised its position in FedEx Corp. by 10.9% in the third quarter. HighPoint Advisor Group LLC now owns 2,018 shares of the shipping service provider’s stock worth $373,000 after buying an additional 199 shares during the period. D.A. Davidson & CO. increased its stake in shares of FedEx Corp. by 11.3% in the third quarter. D.A. Davidson & CO. now owns 39,191 shares of the shipping service provider’s stock worth $6,845,000 after buying an additional 3,992 shares in the last quarter. Whalerock Point Partners LLC purchased a new stake in shares of FedEx Corp. during the third quarter worth about $266,000. Brinker Capital Inc. increased its stake in shares of FedEx Corp. by 4.4% in the third quarter. Brinker Capital Inc. now owns 3,797 shares of the shipping service provider’s stock worth $665,000 after buying an additional 161 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of FedEx Corp. during the third quarter worth about $8,975,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.
FedEx Corp. Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
To view Vetr’s full report, visit Vetr’s official website.
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