JPMorgan Chase & Co. upgraded shares of FedEx (NYSE:FDX) from a neutral rating to an overweight rating in a research note published on Wednesday, BenzingaRatingsTable reports. They currently have $188.00 price target on the shipping service provider’s stock, up from their previous price target of $145.00.
Other analysts have also issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of FedEx from $136.00 to $120.00 in a research report on Wednesday, March 18th. Raymond James dropped their target price on shares of FedEx from $167.00 to $150.00 and set an outperform rating on the stock in a research report on Wednesday, March 18th. Stephens dropped their target price on shares of FedEx from $180.00 to $145.00 and set an overweight rating on the stock in a research report on Monday, March 16th. Deutsche Bank lowered their price target on shares of FedEx from $142.00 to $128.00 and set a hold rating on the stock in a research report on Monday, May 11th. Finally, Morgan Stanley lowered their price target on shares of FedEx from $100.00 to $98.00 and set an equal weight rating on the stock in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $160.08.
FDX traded down $0.68 on Wednesday, reaching $155.98. The stock had a trading volume of 3,217,319 shares, compared to its average volume of 2,578,059. The business’s 50-day moving average price is $129.29 and its two-hundred day moving average price is $135.77. FedEx has a 12-month low of $88.69 and a 12-month high of $178.50. The company has a market cap of $41.37 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.25 and a beta of 1.32. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.66.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Monday, June 29th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, June 26th. FedEx’s payout ratio is 27.37%.
In other news, CEO Frederick W. Smith sold 155,750 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $117.71, for a total value of $18,333,332.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.44% of the company’s stock.
A number of large investors have recently modified their holdings of FDX. Norges Bank acquired a new stake in FedEx during the 4th quarter worth $301,733,000. Parnassus Investments CA boosted its stake in FedEx by 47.0% during the 1st quarter. Parnassus Investments CA now owns 6,136,330 shares of the shipping service provider’s stock worth $744,091,000 after purchasing an additional 1,960,883 shares during the period. Invesco Ltd. raised its position in FedEx by 212.2% during the 1st quarter. Invesco Ltd. now owns 2,116,047 shares of the shipping service provider’s stock worth $256,592,000 after buying an additional 1,438,225 shares during the last quarter. Advisor Group Holdings Inc. purchased a new position in FedEx during the 1st quarter worth $10,618,000. Finally, Artisan Partners Limited Partnership raised its position in FedEx by 28.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,036,716 shares of the shipping service provider’s stock worth $761,602,000 after buying an additional 1,120,770 shares during the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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