FedEx (NYSE:FDX) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of FedEx (NYSE:FDXGet Rating) from a strong-buy rating to a buy rating in a report issued on Tuesday.

A number of other research analysts also recently commented on the company. Robert W. Baird reissued an outperform rating and issued a $300.00 price target on shares of FedEx in a report on Monday, March 21st. Deutsche Bank Aktiengesellschaft reduced their price target on FedEx from $310.00 to $298.00 and set a buy rating for the company in a report on Monday, March 21st. Morgan Stanley reduced their price target on FedEx from $250.00 to $245.00 and set an equal weight rating for the company in a report on Thursday, June 2nd. Bank of America reduced their target price on FedEx from $297.00 to $280.00 and set a buy rating on the stock in a report on Friday, March 18th. Finally, Berenberg Bank set a $330.00 target price on FedEx in a report on Friday, May 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of Moderate Buy and an average target price of $298.30.

Shares of FDX opened at $228.13 on Tuesday. The company has a market capitalization of $59.13 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.85 and a beta of 1.31. FedEx has a one year low of $192.82 and a one year high of $304.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.35 and a current ratio of 1.39. The stock has a 50-day moving average price of $212.43 and a 200 day moving average price of $227.11.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Monday, June 27th will be given a $1.15 dividend. This is a boost from FedEx’s previous quarterly dividend of $0.75. This represents a $4.60 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, June 24th. FedEx’s dividend payout ratio (DPR) is currently 15.75%.

In related news, Director Paul S. Walsh sold 3,720 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $206.42, for a total value of $767,882.40. Following the sale, the director now directly owns 14,000 shares in the company, valued at approximately $2,889,880. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.16% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. increased its position in FedEx by 5.7% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,362,916 shares of the shipping service provider’s stock valued at $298,874,000 after acquiring an additional 74,013 shares during the period. Kovack Advisors Inc. increased its position in shares of FedEx by 33.4% during the 4th quarter. Kovack Advisors Inc. now owns 4,657 shares of the shipping service provider’s stock valued at $1,205,000 after purchasing an additional 1,165 shares during the period. Carret Asset Management LLC increased its position in shares of FedEx by 1.9% during the 4th quarter. Carret Asset Management LLC now owns 28,391 shares of the shipping service provider’s stock valued at $7,343,000 after purchasing an additional 531 shares during the period. Woodstock Corp increased its position in shares of FedEx by 30.8% during the 4th quarter. Woodstock Corp now owns 8,703 shares of the shipping service provider’s stock valued at $2,251,000 after purchasing an additional 2,047 shares during the period. Finally, Empirical Capital Management LLC increased its position in shares of FedEx by 300.0% during the 3rd quarter. Empirical Capital Management LLC now owns 20,000 shares of the shipping service provider’s stock valued at $4,386,000 after purchasing an additional 15,000 shares during the period. Hedge funds and other institutional investors own 79.92% of the company’s stock.

FedEx Company Profile (Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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