FedEx (NYSE:FDX) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a research note released on Saturday.

FDX has been the subject of a number of other research reports. BMO Capital Markets reduced their price target on FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a report on Monday, May 19th. Raymond James Financial reaffirmed an “outperform” rating and issued a $260.00 price target (down previously from $275.00) on shares of FedEx in a report on Wednesday, June 25th. Wells Fargo & Company boosted their price objective on FedEx from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 25th. Citigroup boosted their price objective on FedEx from $259.00 to $278.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Finally, Truist Financial reiterated a “buy” rating and set a $275.00 price objective on shares of FedEx in a research note on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $283.25.

FedEx Stock Performance

Shares of FDX opened at $242.48 on Friday. The stock has a 50-day moving average of $227.34 and a two-hundred day moving average of $236.34. FedEx has a one year low of $194.29 and a one year high of $308.53. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. The stock has a market cap of $57.20 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.27 and a beta of 1.35.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the previous year, the company posted $5.41 earnings per share. As a group, research analysts predict that FedEx will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were paid a dividend of $1.45 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date was Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.39%. FedEx’s dividend payout ratio is 34.36%.

Insider Buying and Selling at FedEx

In related news, Director Marvin R. Ellison sold 3,610 shares of the firm’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the transaction, the director owned 7,720 shares in the company, valued at $1,829,176.80. This trade represents a 31.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Brad Martin sold 2,123 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director owned 8,935 shares in the company, valued at $2,160,036.25. This represents a 19.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,343 shares of company stock worth $2,228,816. 8.87% of the stock is owned by company insiders.

Institutional Trading of FedEx

Large investors have recently added to or reduced their stakes in the business. Omnia Family Wealth LLC lifted its position in FedEx by 11.8% in the 2nd quarter. Omnia Family Wealth LLC now owns 916 shares of the shipping service provider’s stock worth $209,000 after buying an additional 97 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in FedEx in the 2nd quarter worth approximately $479,000. WealthPlan Investment Management LLC lifted its position in FedEx by 3.2% in the 2nd quarter. WealthPlan Investment Management LLC now owns 1,439 shares of the shipping service provider’s stock worth $327,000 after buying an additional 44 shares in the last quarter. Mutual Advisors LLC lifted its position in FedEx by 2.6% in the 2nd quarter. Mutual Advisors LLC now owns 3,878 shares of the shipping service provider’s stock worth $943,000 after buying an additional 99 shares in the last quarter. Finally, Generali Asset Management SPA SGR lifted its position in FedEx by 1.5% in the 2nd quarter. Generali Asset Management SPA SGR now owns 6,366 shares of the shipping service provider’s stock worth $1,447,000 after buying an additional 94 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

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.