FedEx (NYSE:FDX) Rating Increased to Hold at Wall Street Zen

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

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group started coverage on shares of FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective for the company. Stifel Nicolaus dropped their price target on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Seaport Research Partners assumed coverage on shares of FedEx in a report on Wednesday, May 27th. They set a “buy” rating for the company. Citigroup assumed coverage on shares of FedEx in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Stock Up 0.9%

FedEx stock opened at $318.64 on Friday. The stock has a 50 day moving average of $319.48 and a two-hundred day moving average of $350.25. FedEx has a twelve month low of $176.00 and a twelve month high of $345.36. The stock has a market capitalization of $75.39 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.64 and a beta of 1.30. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion for the quarter. As a group, research analysts expect that FedEx will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On FedEx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new stake in shares of FedEx in the 1st quarter worth approximately $25,000. Bayban purchased a new stake in FedEx during the first quarter worth $26,000. Cedar Mountain Advisors LLC boosted its position in FedEx by 77.4% during the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 41 shares in the last quarter. EFG International AG acquired a new stake in FedEx in the fourth quarter valued at $27,000. Finally, Tucker Asset Management LLC purchased a new position in shares of FedEx in the fourth quarter valued at $29,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Company Profile

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.