UBS Group upgraded shares of FedEx (NYSE:FDX) from a neutral rating to a buy rating in a research report sent to investors on Friday, 99wallstreet.com reports. UBS Group currently has $302.00 price objective on the shipping service provider’s stock, up from their prior price objective of $264.00.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of FedEx from a hold rating to a buy rating and set a $297.00 target price for the company in a research note on Friday. Loop Capital raised their price objective on shares of FedEx to $318.00 in a research report on Thursday, January 4th. ValuEngine upgraded shares of FedEx from a hold rating to a buy rating in a research report on Sunday, December 31st. Argus raised their price objective on shares of FedEx from $245.00 to $290.00 and gave the stock a buy rating in a research report on Tuesday, December 26th. Finally, Oppenheimer restated a buy rating and set a $265.00 price objective (up from $236.00) on shares of FedEx in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $267.16.
Shares of FedEx (FDX) opened at $268.66 on Friday. FedEx has a one year low of $182.89 and a one year high of $271.39. The stock has a market cap of $71,970.00, a PE ratio of 24.69, a P/E/G ratio of 1.60 and a beta of 1.36. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.74%. FedEx’s dividend payout ratio (DPR) is 18.38%.
In related news, EVP Robert B. Carter sold 3,970 shares of FedEx stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David J. Bronczek sold 46,555 shares of FedEx stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the completion of 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 65,655 shares of company stock worth $16,334,753 over the last three months. 8.45% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Salem Investment Counselors Inc. grew its stake in shares of FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after buying an additional 13 shares during the last quarter. Krilogy Financial LLC grew its stake in shares of FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after buying an additional 2 shares during the last quarter. Financial Engines Advisors L.L.C. bought a new stake in shares of FedEx during the third quarter worth $132,000. Massey Quick Simon & CO. LLC bought a new stake in shares of FedEx during the third quarter worth $136,000. Finally, Carroll Financial Associates Inc. grew its stake in shares of FedEx by 61.1% during the third quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after buying an additional 240 shares during the last quarter. 75.66% of the stock is currently owned by hedge funds and other institutional investors.
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FedEx Company Profile
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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