FedEx Corporation (FDX) Given Buy Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their buy rating on shares of FedEx Corporation (NYSE:FDX) in a report released on Wednesday morning. BMO Capital Markets currently has a $245.00 target price on the shipping service provider’s stock.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded FedEx Corporation from a hold rating to a buy rating and set a $215.00 price objective on the stock in a research note on Tuesday, May 23rd. Vetr upgraded FedEx Corporation from a hold rating to a buy rating and set a $195.86 price objective on the stock in a research note on Wednesday, May 17th. ValuEngine upgraded FedEx Corporation from a hold rating to a buy rating in a research note on Saturday, June 3rd. UBS AG restated a buy rating and issued a $235.00 price objective (up from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Finally, Deutsche Bank AG set a $235.00 price objective on FedEx Corporation and gave the company a buy rating in a research note on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $221.72.

FedEx Corporation (NYSE FDX) traded up 0.38% on Wednesday, hitting $212.71. The stock had a trading volume of 271,704 shares. FedEx Corporation has a 52-week low of $158.20 and a 52-week high of $219.99. The company has a 50 day moving average price of $209.43 and a 200-day moving average price of $201.05. The company has a market cap of $57.06 billion, a price-to-earnings ratio of 19.21 and a beta of 1.28.

FedEx Corporation (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. During the same period in the previous year, the business posted $3.30 EPS. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts predict that FedEx Corporation will post $13.56 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, September 8th. FedEx Corporation’s dividend payout ratio is currently 18.08%.

In other FedEx Corporation news, Director Kim Jabal sold 5,918 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $216.05, for a total value of $1,278,583.90. Following the completion of the sale, the director now owns 3,610 shares of the company’s stock, valued at $779,940.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John L. Merino sold 7,200 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total value of $1,521,072.00. Following the completion of the sale, the vice president now directly owns 33,908 shares of the company’s stock, valued at approximately $7,163,404.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.45% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in FDX. BlackRock Inc. lifted its position in FedEx Corporation by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after purchasing an additional 14,086,601 shares during the last quarter. Harbour Capital Advisors LLC lifted its position in FedEx Corporation by 21,011.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock valued at $6,556,000 after purchasing an additional 1,418,066 shares during the last quarter. Davis Selected Advisers lifted its position in FedEx Corporation by 265.4% in the second quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock valued at $366,118,000 after purchasing an additional 1,223,646 shares during the last quarter. Vanguard Group Inc. lifted its position in FedEx Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock valued at $3,512,158,000 after purchasing an additional 918,896 shares during the last quarter. Finally, Pioneer Investment Management Inc. lifted its position in FedEx Corporation by 1,611.5% in the first quarter. Pioneer Investment Management Inc. now owns 870,646 shares of the shipping service provider’s stock valued at $169,906,000 after purchasing an additional 819,777 shares during the last quarter. Hedge funds and other institutional investors own 75.86% of the company’s stock.

About FedEx Corporation

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.

Analyst Recommendations for FedEx Corporation (NYSE:FDX)




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