Stephens Reaffirms Overweight Rating for FedEx (NYSE:FDX)

Stephens reissued their overweight rating on shares of FedEx (NYSE:FDX) in a research report report published on Friday, Benzinga reports. Stephens currently has a $350.00 price objective on the shipping service provider’s stock.

Several other analysts have also recently commented on the company. Wells Fargo & Company upped their target price on FedEx from $275.00 to $300.00 and gave the company an equal weight rating in a report on Wednesday, June 26th. Evercore ISI decreased their price target on FedEx from $335.00 to $318.00 and set an outperform rating for the company in a report on Friday. HSBC downgraded FedEx from a buy rating to a hold rating and set a $300.00 price objective for the company. in a research note on Friday. Argus upped their price objective on FedEx from $325.00 to $335.00 and gave the company a buy rating in a research note on Thursday, June 27th. Finally, StockNews.com downgraded FedEx from a strong-buy rating to a buy rating in a research note on Saturday, August 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $315.95.

FedEx Stock Down 15.2 %

FDX opened at $254.64 on Friday. 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 quick ratio of 1.32 and a current ratio of 1.36. The company has a market capitalization of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. The stock has a fifty day moving average of $292.43 and a 200-day moving average of $275.22.

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 during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The business’s revenue was down .5% on a year-over-year basis. On average, equities analysts expect that FedEx will post 20.82 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 yield of 2.17%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insiders Place Their Bets

In related news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Paul S. Walsh sold 2,535 shares of the 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 owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The shares were 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 directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

Hedge funds have recently made changes to their positions in the company. Precision Wealth Strategies LLC purchased a new position in shares of FedEx during the fourth quarter worth about $324,000. Quest Partners LLC acquired a new stake in shares of FedEx during the 4th quarter valued at approximately $267,000. Franklin Resources Inc. lifted its position in shares of FedEx by 38.6% during the 4th quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock valued at $38,934,000 after acquiring an additional 42,844 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of FedEx by 3.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock valued at $15,283,000 after acquiring an additional 2,051 shares during the period. Finally, US Bancorp DE increased its stake in shares of FedEx by 3.6% during the 4th quarter. US Bancorp DE now owns 113,778 shares of the shipping service provider’s stock worth $28,782,000 after purchasing an additional 3,955 shares in the last quarter. Hedge funds and other institutional investors 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.