FedEx (NYSE:FDX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of FedEx (NYSE:FDX) to a hold rating in a research note released on Saturday.

FDX has been the subject of a number of other research reports. Truist Financial decreased their target price on shares of FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Stephens raised FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Evercore set a $165.00 target price on shares of FedEx in a research report on Friday, June 26th. Seaport Research Partners assumed coverage on FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating for the company. Finally, Bank of America raised their price objective on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx Trading Up 1.9%

FDX opened at $324.52 on Friday. The company’s 50 day moving average is $319.20 and its 200-day moving average is $350.71. The company has a market cap of $76.78 billion, a P/E ratio of 17.53, a PEG ratio of 1.64 and a beta of 1.30. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx has a 1-year low of $176.00 and a 1-year high of $345.36.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $23.26 billion for the quarter. Equities research analysts predict that FedEx will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in FedEx in the second quarter worth $6,508,103,000. Norges Bank bought a new stake in shares of FedEx during the 4th quarter worth $859,085,000. Boston Partners purchased a new position in shares of FedEx in the 3rd quarter worth about $468,195,000. AQR Capital Management LLC grew its position in FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after buying an additional 1,718,278 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in FedEx during the second quarter worth about $466,943,000. 84.47% of the stock is owned by institutional investors.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.