FedEx Co. (NYSE:FDX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

FedEx Co. (NYSE:FDX) has been assigned a consensus recommendation of “Moderate Buy” from the thirty analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, eighteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $302.71.

FDX has been the topic of a number of recent analyst reports. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and cut their price target for the company from $283.00 to $221.00 in a report on Friday, March 21st. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. TD Cowen reduced their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a “hold” rating in a report on Thursday, March 20th. Finally, Piper Sandler cut FedEx to a “neutral” rating in a report on Monday, February 3rd.

FedEx Stock Performance

FedEx stock opened at $209.90 on Monday. The company has a market cap of $50.29 billion, a PE ratio of 13.38, a P/E/G ratio of 1.11 and a beta of 1.24. FedEx has a 12 month low of $203.90 and a 12 month high of $313.84. The company has a fifty day moving average price of $252.45 and a two-hundred day moving average price of $269.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $3.86 earnings per share. Research analysts expect that FedEx will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.63%. FedEx’s payout ratio is currently 34.63%.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is owned by insiders.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Regal Investment Advisors LLC boosted its holdings in shares of FedEx by 2.4% during the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after acquiring an additional 38 shares during the period. Cetera Trust Company N.A grew its holdings in shares of FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares in the last quarter. Griffin Asset Management Inc. increased its holdings in FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after buying an additional 40 shares during the period. Aviso Financial Inc. boosted its holdings in shares of FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares in the last quarter. Finally, Garner Asset Management Corp increased its stake in shares of FedEx by 0.7% in the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock valued at $1,659,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds 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.