FedEx (NYSE:FDX) had its target price lowered by Credit Suisse Group from $314.00 to $306.00 in a research report released on Wednesday. The firm currently has an outperform rating on the shipping service provider’s stock.
A number of other research analysts also recently issued reports on FDX. Stifel Nicolaus upgraded shares of FedEx from a hold rating to a buy rating and raised their price target for the stock from $284.00 to $295.00 in a research report on Wednesday. Oppenheimer raised their price target on shares of FedEx from $265.00 to $274.00 and gave the stock an outperform rating in a research report on Friday, March 16th. Robert W. Baird raised their price target on shares of FedEx from $270.00 to $280.00 and gave the stock an outperform rating in a research report on Thursday, March 15th. KeyCorp raised their price target on shares of FedEx from $275.00 to $290.00 and gave the stock an overweight rating in a research report on Wednesday. Finally, Bank of America restated a buy rating and issued a $315.00 price target on shares of FedEx in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. FedEx currently has a consensus rating of Buy and an average target price of $279.66.
FDX stock opened at $229.48 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 1.50. FedEx has a 52-week low of $182.89 and a 52-week high of $274.66. The stock has a market cap of $63,294.27, a PE ratio of 14.02, a PEG ratio of 1.22 and a beta of 1.32.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, March 9th. This represents a $2.00 annualized dividend and a yield of 0.87%. FedEx’s payout ratio is 12.22%.
In other FedEx news, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total transaction of $802,406.80. Following the transaction, the director now owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the transaction, the chief operating officer now directly owns 48,562 shares in the company, valued at approximately $12,407,105.38. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Sirios Capital Management L P increased its stake in FedEx by 12.3% during the 3rd quarter. Sirios Capital Management L P now owns 589,149 shares of the shipping service provider’s stock valued at $132,901,000 after buying an additional 64,637 shares during the period. Hartwell J M Limited Partnership acquired a new position in shares of FedEx in the 4th quarter worth approximately $4,396,000. MetLife Investment Advisors LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $19,047,000. Kovack Advisors Inc. acquired a new position in shares of FedEx in the 4th quarter worth approximately $343,000. Finally, Carret Asset Management LLC grew its stake in shares of FedEx by 2.0% in the 3rd quarter. Carret Asset Management LLC now owns 21,619 shares of the shipping service provider’s stock worth $4,877,000 after purchasing an additional 420 shares during the last quarter. 74.58% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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