FedEx (NYSE:FDX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a report released on Friday morning.

FDX has been the topic of several other research reports. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $215.00 to $200.00 in a report on Friday, September 20th. Evercore ISI reduced their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Bank of America boosted their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research report on Friday, September 20th. Finally, Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Stock Down 0.1 %

FDX opened at $275.73 on Friday. The business’s fifty day simple moving average is $282.71 and its 200 day simple moving average is $281.85. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market cap of $67.37 billion, a PE ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $3.99 EPS. As a group, research analysts expect that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Institutional Trading of FedEx

A number of hedge funds have recently made changes to their positions in FDX. Evermay Wealth Management LLC raised its stake in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of FedEx in the 3rd quarter worth about $31,000. Abound Wealth Management boosted its stake in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in FedEx in the 3rd quarter worth about $47,000. Finally, Sachetta LLC grew its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is 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.