JPMorgan Chase & Co. reissued their buy rating on shares of FedEx (NYSE:FDX) in a research report released on Monday morning. The firm currently has a $315.00 target price on the shipping service provider’s stock.
Several other equities research analysts have also recently weighed in on the company. Oppenheimer increased their target price on FedEx from $265.00 to $274.00 and gave the company an outperform rating in a report on Friday, March 16th. Robert W. Baird increased their target price on FedEx from $270.00 to $280.00 and gave the company an outperform rating in a report on Thursday, March 15th. Zacks Investment Research cut FedEx from a buy rating to a hold rating in a report on Tuesday, March 13th. Sanford C. Bernstein upgraded FedEx from a market perform rating to an outperform rating and set a $290.00 target price for the company in a report on Friday, February 23rd. Finally, Bank of America restated a buy rating and set a $315.00 target price on shares of FedEx in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $279.66.
FedEx stock opened at $249.02 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $66,867.92, a PE ratio of 22.95, a PEG ratio of 1.45 and a beta of 1.32. FedEx has a 1 year low of $182.89 and a 1 year high of $274.66.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.61. The company had revenue of $16.53 billion during the quarter, compared to analysts’ expectations of $16.17 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. FedEx’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.35 EPS. sell-side analysts anticipate that FedEx will post 13.5 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, March 9th. FedEx’s dividend payout ratio (DPR) is currently 18.43%.
In other news, COO David J. Bronczek sold 46,555 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the completion of the transaction, the chief operating officer now owns 48,562 shares of the company’s stock, valued at approximately $12,407,105.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David P. Steiner sold 3,016 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the transaction, the director now directly owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Cerebellum GP LLC bought a new position in shares of FedEx in the 4th quarter worth approximately $125,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of FedEx in the 4th quarter worth approximately $144,000. Financial Engines Advisors L.L.C. bought a new position in shares of FedEx in the 3rd quarter worth approximately $132,000. We Are One Seven LLC bought a new position in shares of FedEx in the 4th quarter worth approximately $148,000. Finally, Massey Quick Simon & CO. LLC bought a new position in shares of FedEx in the 3rd quarter worth approximately $136,000. 74.58% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.