FedEx’s (FDX) Buy Rating Reiterated at Robert W. Baird

Robert W. Baird reissued their buy rating on shares of FedEx (NYSE:FDX) in a report released on Monday morning. The brokerage currently has a $270.00 price objective on the shipping service provider’s stock.

FDX has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of FedEx from a buy rating to a hold rating in a report on Thursday, January 4th. Sanford C. Bernstein set a $236.00 price target on shares of FedEx and gave the company a hold rating in a report on Wednesday, December 20th. Loop Capital increased their price target on shares of FedEx to $318.00 in a report on Thursday, January 4th. UBS Group raised shares of FedEx from a neutral rating to a buy rating and increased their price target for the company from $264.00 to $302.00 in a report on Friday, January 5th. Finally, BMO Capital Markets increased their price target on shares of FedEx from $265.00 to $270.00 and gave the company an outperform rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $272.69.

FedEx (NYSE:FDX) opened at $240.82 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. FedEx has a 1-year low of $182.89 and a 1-year high of $274.66. The company has a market cap of $64,379.23, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.40 and a beta of 1.30.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The firm had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. During the same quarter last year, the firm earned $2.80 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. equities research analysts forecast that FedEx will post 13.45 earnings per share for the current fiscal year.

In other news, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total transaction of $995,398.10. Following the transaction, the executive vice president now directly owns 187,025 shares of the company’s stock, valued at $46,892,778.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was 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 $12,407,105.38. The disclosure for this sale can be found here. Insiders sold a total of 53,541 shares of company stock worth $13,692,142 over the last three months. 8.45% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of FedEx by 2.7% during the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after acquiring an additional 492,840 shares during the period. FMR LLC boosted its stake in shares of FedEx by 0.3% during the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock valued at $984,539,000 after purchasing an additional 15,382 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of FedEx by 7.3% during the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock valued at $885,594,000 after purchasing an additional 266,660 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of FedEx by 47.4% during the fourth quarter. Jennison Associates LLC now owns 3,687,689 shares of the shipping service provider’s stock valued at $920,226,000 after purchasing an additional 1,185,447 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of FedEx by 16.1% during the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock valued at $785,626,000 after purchasing an additional 501,617 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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About FedEx

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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