Goldman Sachs Group began coverage on shares of FedEx (NYSE:FDX) in a research report released on Monday, November 13th, Marketbeat.com reports. The firm issued a buy rating and a $270.00 price objective on the shipping service provider’s stock.
Several other analysts have also recently commented on FDX. Vetr raised FedEx from a sell rating to a hold rating and set a $206.26 price target for the company in a report on Tuesday, July 18th. BidaskClub cut FedEx from a strong-buy rating to a buy rating in a report on Monday, July 31st. Credit Suisse Group reissued a buy rating and issued a $237.00 price target on shares of FedEx in a report on Monday, August 7th. Cowen reissued a buy rating and issued a $240.00 price target on shares of FedEx in a report on Thursday, August 10th. Finally, Stifel Nicolaus reissued a neutral rating on shares of FedEx in a report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $231.81.
Shares of FedEx (FDX) traded down $0.62 during mid-day trading on Monday, hitting $230.84. The company’s stock had a trading volume of 1,809,865 shares, compared to its average volume of 1,190,257. FedEx has a one year low of $182.89 and a one year high of $233.89. The stock has a market cap of $62,065.47, a P/E ratio of 19.43, a P/E/G ratio of 1.46 and a beta of 1.36. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s dividend payout ratio is currently 18.87%.
In other FedEx news, Director Kim Jabal sold 3,980 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total transaction of $897,689.00. Following the completion of the sale, the director now owns 6,080 shares of the company’s stock, valued at $1,371,344. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Henry J. Maier sold 11,150 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the sale, the insider now directly owns 36,747 shares of the company’s stock, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,094 shares of company stock valued at $9,024,637. Company insiders own 8.45% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of FDX. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of FedEx by 64.2% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,147 shares of the shipping service provider’s stock worth $614,000 after purchasing an additional 1,230 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of FedEx by 9.8% in the first quarter. Stifel Financial Corp now owns 227,147 shares of the shipping service provider’s stock worth $44,393,000 after acquiring an additional 20,340 shares in the last quarter. Parkside Investments LLC acquired a new position in shares of FedEx in the first quarter worth about $4,233,000. Cipher Capital LP lifted its stake in shares of FedEx by 25.1% in the first quarter. Cipher Capital LP now owns 29,913 shares of the shipping service provider’s stock worth $5,838,000 after acquiring an additional 6,005 shares in the last quarter. Finally, Atlantic Trust Group LLC lifted its stake in shares of FedEx by 43.5% in the first quarter. Atlantic Trust Group LLC now owns 45,095 shares of the shipping service provider’s stock worth $8,800,000 after acquiring an additional 13,663 shares in the last quarter. Institutional investors own 75.74% of the company’s stock.
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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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