StockNews.com Lowers FedEx (NYSE:FDX) to Buy

StockNews.com lowered shares of FedEx (NYSE:FDXGet Rating) from a strong-buy rating to a buy rating in a research note released on Tuesday.

Other equities analysts have also recently issued reports about the company. Robert W. Baird restated an outperform rating and issued a $300.00 target price on shares of FedEx in a report on Monday, March 21st. Morgan Stanley decreased their target price on FedEx from $250.00 to $245.00 and set an equal weight rating on the stock in a report on Thursday, June 2nd. The Goldman Sachs Group decreased their target price on FedEx from $331.00 to $291.00 and set a buy rating on the stock in a report on Tuesday, June 7th. Bank of America decreased their target price on FedEx from $297.00 to $280.00 and set a buy rating on the stock in a report on Friday, March 18th. Finally, Stephens decreased their target price on FedEx from $345.00 to $285.00 and set an overweight rating on the stock in a report on Friday, March 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $298.30.

Shares of FDX stock opened at $228.13 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.35 and a current ratio of 1.39. The stock has a market cap of $59.13 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.85 and a beta of 1.31. The business’s fifty day moving average is $212.43 and its 200-day moving average is $227.11. FedEx has a 1 year low of $192.82 and a 1 year high of $304.59.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Monday, June 27th will be given a dividend of $1.15 per share. This is a boost from FedEx’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, June 24th. This represents a $4.60 dividend on an annualized basis and a yield of 2.02%. FedEx’s dividend payout ratio (DPR) is presently 15.75%.

In related news, Director Paul S. Walsh sold 3,720 shares of FedEx stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $206.42, for a total transaction of $767,882.40. Following the completion of the sale, the director now owns 14,000 shares of the company’s stock, valued at $2,889,880. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.16% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in FedEx by 2.1% during the first quarter. Vanguard Group Inc. now owns 18,784,798 shares of the shipping service provider’s stock valued at $4,346,614,000 after buying an additional 394,289 shares in the last quarter. Dodge & Cox raised its holdings in FedEx by 22.2% during the fourth quarter. Dodge & Cox now owns 16,674,920 shares of the shipping service provider’s stock valued at $4,312,801,000 after buying an additional 3,031,046 shares in the last quarter. Primecap Management Co. CA raised its holdings in FedEx by 0.3% during the first quarter. Primecap Management Co. CA now owns 13,237,477 shares of the shipping service provider’s stock valued at $3,063,020,000 after buying an additional 41,945 shares in the last quarter. Geode Capital Management LLC raised its holdings in FedEx by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 4,062,836 shares of the shipping service provider’s stock valued at $1,047,785,000 after buying an additional 153,131 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in FedEx by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,404,754 shares of the shipping service provider’s stock valued at $556,512,000 after buying an additional 78,183 shares in the last quarter. Institutional investors own 79.92% of the company’s stock.

FedEx Company Profile (Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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