FedEx Corporation (NYSE:FDX) Receives Average Rating of “Moderate Buy” from Analysts

FedEx Corporation (NYSE:FDX) has been assigned an average rating of “Moderate Buy” from the thirty ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $355.1722.

A number of equities research analysts have recently commented on the company. Truist Financial dropped their price target on FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. UBS Group lowered their target price on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Bank of America boosted their price objective on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. BNP Paribas Exane reduced their price objective on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, Wells Fargo & Company decreased their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 17th.

Insider Activity at FedEx

In other FedEx news, Director Paul Walsh sold 5,042 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FDX. Hollencrest Capital Management bought a new stake in FedEx during the 1st quarter worth approximately $25,000. Bayban acquired a new position in shares of FedEx in the 1st quarter valued at about $26,000. Solstein Capital LLC bought a new position in shares of FedEx during the 2nd quarter worth approximately $27,000. EFG International AG bought a new stake in FedEx in the fourth quarter valued at $27,000. Finally, Wealth Watch Advisors INC bought a new stake in FedEx in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX stock opened at $311.95 on Monday. The firm has a market cap of $73.83 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.66 and a beta of 1.32. FedEx has a 12 month low of $179.50 and a 12 month high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The stock has a 50-day moving average price of $319.16 and a 200 day moving average price of $346.76.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Research analysts expect that FedEx will post 17.55 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, September 14th. FedEx’s payout ratio is presently 26.36%.

About FedEx

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company. Through its operating companies, FedEx provides package delivery, freight transportation, logistics, supply chain management and related services for businesses, governments and consumers.

The company’s offerings include time-definite express shipping, ground delivery, less-than-truckload freight transportation, customs and international trade support, warehousing, fulfillment and other logistics solutions.