FedEx (NYSE:FDX) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of FedEx (NYSE:FDX) in a research report released on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $305.00 price objective on the shipping service provider’s stock.

Other equities research analysts have also recently issued reports about the company. Stephens dropped their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. TD Cowen raised their target price on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus dropped their target price on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. lowered their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $318.04.

FedEx Stock Performance

NYSE FDX opened at $240.74 on Thursday. The stock has a 50-day simple moving average of $263.68 and a two-hundred day simple moving average of $274.89. The firm has a market capitalization of $57.98 billion, a P/E ratio of 15.34, a PEG ratio of 1.11 and a beta of 1.23. FedEx has a fifty-two week low of $239.50 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter last year, the business posted $3.99 EPS. The company’s revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that FedEx will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is presently 35.18%.

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Norges Bank purchased a new stake in FedEx in the fourth quarter valued at approximately $807,352,000. Raymond James Financial Inc. purchased a new stake in FedEx in the fourth quarter valued at approximately $234,028,000. Dodge & Cox raised its position in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the period. Capital Research Global Investors purchased a new stake in FedEx in the fourth quarter valued at approximately $145,733,000. Finally, ACR Alpine Capital Research LLC raised its position in FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after purchasing an additional 329,170 shares during the period. 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.