FedEx (NYSE:FDX) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of FedEx (NYSE:FDX) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning.

Several other analysts also recently issued reports on FDX. Evercore ISI decreased their price target on FedEx from $351.00 to $318.00 and set an outperform rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. upgraded FedEx from a neutral rating to an overweight rating and upped their price target for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Stephens restated an overweight rating and set a $325.00 target price on shares of FedEx in a research note on Wednesday, June 26th. Wells Fargo & Company increased their target price on FedEx from $275.00 to $300.00 and gave the company an equal weight rating in a research note on Wednesday, June 26th. Finally, TD Cowen increased their target price on FedEx from $320.00 to $335.00 and gave the company a buy rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $314.00.

FedEx Stock Performance

Shares of FDX stock opened at $292.32 on Tuesday. The firm has a market cap of $71.41 billion, a P/E ratio of 16.97, a PEG ratio of 1.09 and a beta of 1.18. The stock’s 50-day moving average is $277.79 and its two-hundred day moving average is $264.04. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.94 EPS. Analysts predict that FedEx will post 20.94 earnings per share 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 issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.89%. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date was Monday, June 24th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Activity at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 in the last three months. Corporate insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FDX. TD Asset Management Inc lifted its holdings in FedEx by 5.0% during the second quarter. TD Asset Management Inc now owns 90,147 shares of the shipping service provider’s stock worth $27,030,000 after acquiring an additional 4,289 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in FedEx by 5.1% during the second quarter. Belpointe Asset Management LLC now owns 2,237 shares of the shipping service provider’s stock worth $671,000 after acquiring an additional 109 shares in the last quarter. Markel Group Inc. raised its stake in shares of FedEx by 7.7% in the 2nd quarter. Markel Group Inc. now owns 181,000 shares of the shipping service provider’s stock valued at $54,271,000 after purchasing an additional 13,000 shares during the period. Consolidated Planning Corp raised its stake in shares of FedEx by 18.3% in the 2nd quarter. Consolidated Planning Corp now owns 20,537 shares of the shipping service provider’s stock valued at $6,158,000 after purchasing an additional 3,179 shares during the period. Finally, Weaver Capital Management LLC acquired a new stake in shares of FedEx in the 2nd quarter valued at about $312,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Company Profile

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.