Goldman Sachs Group started coverage on shares of FedEx (NYSE:FDX) in a research note published on Wednesday, Briefing.com Automated Import reports. The firm issued a buy rating and a $200.00 price objective on the shipping service provider’s stock.
A number of other research firms have also recently issued reports on FDX. Sanford C. Bernstein set a $205.00 price objective on shares of FedEx and gave the stock a buy rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. reiterated a neutral rating and set a GBX 785 ($10.26) price objective on shares of in a research report on Wednesday, June 26th. Zacks Investment Research upgraded shares of Hudson Technologies from a sell rating to a hold rating in a research report on Wednesday, May 29th. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Finally, TheStreet cut shares of Zumiez from a b rating to a c+ rating in a research report on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. FedEx presently has a consensus rating of Buy and a consensus target price of $191.63.
FDX stock opened at $167.47 on Wednesday. The stock’s 50 day moving average is $161.16. The firm has a market cap of $43.64 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 0.90 and a beta of 1.65. FedEx has a 1 year low of $150.68 and a 1 year high of $259.25. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.39 and a current ratio of 1.45.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Monday, June 24th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, June 21st. FedEx’s dividend payout ratio is currently 16.75%.
In other news, Director Paul S. Walsh sold 4,440 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the sale, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 8.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of FedEx during the 4th quarter valued at $303,958,000. Artisan Partners Limited Partnership lifted its position in shares of FedEx by 40.7% during the 1st quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock valued at $497,162,000 after acquiring an additional 792,575 shares during the period. Nordea Investment Management AB lifted its position in shares of FedEx by 63.5% during the 1st quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock valued at $280,985,000 after acquiring an additional 601,465 shares during the period. LSV Asset Management lifted its position in shares of FedEx by 39.7% during the 1st quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock valued at $360,441,000 after acquiring an additional 564,452 shares during the period. Finally, Packer & Co Ltd lifted its position in shares of FedEx by 269.9% during the 2nd quarter. Packer & Co Ltd now owns 659,800 shares of the shipping service provider’s stock valued at $29,289,000 after acquiring an additional 481,416 shares during the period. 69.25% of the stock is currently owned by institutional investors.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
Further Reading: Dividend Achievers
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