Shares of FedEx Corporation (NYSE:FDX – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the twenty-nine ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $372.4096.
A number of research analysts have recently commented on FDX shares. Sanford C. Bernstein upped their price objective on shares of FedEx from $457.00 to $470.00 and gave the company an “outperform” rating in a research report on Thursday, April 9th. Evercore lowered shares of FedEx from an “outperform” rating to a “cautious” rating in a research report on Wednesday, May 27th. Barclays raised shares of FedEx from an “overweight” rating to an “overweight” rating in a research report on Wednesday, May 27th. Stifel Nicolaus upped their price objective on shares of FedEx from $425.00 to $442.00 in a research report on Friday, April 10th. Finally, UBS Group started coverage on shares of FedEx in a research report on Wednesday, May 27th. They set a “buy” rating and a $445.00 price objective for the company.
Get Our Latest Analysis on FDX
FedEx Stock Up 1.1%
FedEx (NYSE:FDX – Get Free Report) last released its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. The firm had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.51 EPS. As a group, analysts forecast that FedEx will post 19.72 earnings per share for the current year.
Insider Activity at FedEx
In other news, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the transaction, the director owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,104 shares of company stock worth $17,599,006 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.
Institutional Trading of FedEx
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in FedEx by 13.2% in the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after acquiring an additional 2,741,723 shares during the period. Dodge & Cox increased its stake in FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after acquiring an additional 1,742,666 shares during the period. State Street Corp increased its stake in FedEx by 4.2% in the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after acquiring an additional 382,848 shares during the period. Franklin Resources Inc. increased its stake in FedEx by 6.6% in the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after acquiring an additional 318,293 shares during the period. Finally, Geode Capital Management LLC increased its stake in FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after acquiring an additional 45,818 shares during the period. Institutional investors own 84.47% of the company’s stock.
Trending Headlines about FedEx
Here are the key news stories impacting FedEx this week:
- Positive Sentiment: FedEx Freight’s debut as a separate company drew fresh analyst coverage and upbeat commentary, with some observers calling it a potential “true winner” and a catalyst for value creation at FedEx. FedEx Freight Stock (FDXF) Soars on Fresh Analyst Coverage
- Positive Sentiment: Analysts and market commentators said the spinoff may help FedEx streamline operations and fully launch its Network 2.0 initiative, which could improve margins and long-term earnings power. Is FedEx a Buy Following Its FedEx Freight Spinoff?
- Positive Sentiment: Jim Cramer highlighted the new breakup of FedEx as a long-awaited move that could be viewed favorably by investors looking for a cleaner, more focused company structure. Why Jim Cramer Says Newly Public FedEx Freight Stock Could Be a ‘True Winner’
- Neutral Sentiment: FedEx has recently outperformed some industrial peers, but commentary remains mixed, with valuation concerns and conflicting analyst views keeping enthusiasm in check. FedEx Stock: Is FDX Outperforming the Industrial Sector?
- Negative Sentiment: One FreightWaves report said a FedEx partner airline may face service risk on Caribbean routes without an FAA waiver, which could raise operational uncertainty for parts of the cargo network. FedEx partner airline says Caribbean service at risk without FAA waiver
About FedEx
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
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