FedEx’s (FDX) “Market Perform” Rating Reiterated at Oppenheimer

Oppenheimer reaffirmed their market perform rating on shares of FedEx (NYSE:FDX) in a report published on Wednesday morning, Benzinga reports.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $327.00 target price (up previously from $303.00) on shares of FedEx in a report on Wednesday. BNP Paribas reiterated an underperform rating and issued a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. UBS Group dropped their price target on shares of FedEx from $340.00 to $333.00 and set a buy rating on the stock in a research note on Tuesday, May 21st. Wells Fargo & Company increased their price target on shares of FedEx from $275.00 to $300.00 and gave the company an equal weight rating in a research note on Wednesday. Finally, Raymond James dropped their price target on shares of FedEx from $325.00 to $300.00 and set an outperform rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, FedEx has a consensus rating of Moderate Buy and an average target price of $314.00.

FedEx Stock Up 1.5 %

Shares of NYSE:FDX opened at $299.84 on Wednesday. The firm’s 50 day moving average price is $258.10 and its 200 day moving average price is $256.48. The stock has a market cap of $73.78 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $302.41. The company has a quick ratio of 1.26, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $4.94 earnings per share. As a group, equities research analysts predict that FedEx will post 20.53 earnings per share for the current fiscal year.

FedEx announced that its board has approved a share repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the transaction, the chief executive officer now owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction 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 transaction, the director now directly 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. Over the last quarter, insiders sold 119,810 shares of company stock valued at $32,924,413. 8.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fidelis Capital Partners LLC raised its stake in shares of FedEx by 4.1% during the 1st quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock worth $285,000 after buying an additional 39 shares during the last quarter. KRS Capital Management LLC raised its stake in FedEx by 4.1% in the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after purchasing an additional 41 shares during the last quarter. Zullo Investment Group Inc. raised its stake in FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after purchasing an additional 42 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its stake in FedEx by 3.5% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock valued at $369,000 after purchasing an additional 43 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its stake in FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

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.