FedEx (NYSE:FDX) Research Coverage Started at Goldman Sachs Group
Goldman Sachs Group assumed coverage on shares of FedEx (NYSE:FDX) in a research note issued to investors on Wednesday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $200.00 price objective on the shipping service provider’s stock.
Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. reissued a neutral rating and set a GBX 785 ($10.26) price target on shares of in a research report on Wednesday, June 26th. ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. KeyCorp reduced their price target on FedEx from $215.00 to $190.00 and set an overweight rating on the stock in a research report on Wednesday, June 12th. Deutsche Bank reissued a hold rating and set a GBX 1,775 ($23.19) price target on shares of in a research report on Wednesday, June 26th. Finally, BMO Capital Markets reissued an outperform rating and set a C$13.00 price target on shares of IPL Plastics in a research report on Wednesday, March 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $191.63.
Shares of NYSE:FDX opened at $167.47 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94. FedEx has a 1 year low of $150.68 and a 1 year high of $259.25. The stock has a market cap of $43.64 billion, a PE ratio of 10.79, a P/E/G ratio of 0.87 and a beta of 1.65. The business’s 50-day moving average price is $161.16.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Monday, June 24th were given 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 was Friday, June 21st. FedEx’s payout ratio is 16.75%.
In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the transaction, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in FDX. First Dallas Securities Inc. raised its position in shares of FedEx by 7.4% during the 1st quarter. First Dallas Securities Inc. now owns 6,133 shares of the shipping service provider’s stock valued at $1,113,000 after acquiring an additional 425 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in shares of FedEx during the 1st quarter valued at approximately $322,000. Tredje AP fonden raised its position in shares of FedEx by 23.7% during the 1st quarter. Tredje AP fonden now owns 19,898 shares of the shipping service provider’s stock valued at $3,623,000 after acquiring an additional 3,817 shares in the last quarter. BRYN MAWR TRUST Co raised its position in shares of FedEx by 1.7% during the 4th quarter. BRYN MAWR TRUST Co now owns 15,716 shares of the shipping service provider’s stock valued at $2,535,000 after acquiring an additional 259 shares in the last quarter. Finally, Physicians Financial Services Inc. raised its position in shares of FedEx by 3.8% during the 1st quarter. Physicians Financial Services Inc. now owns 6,889 shares of the shipping service provider’s stock valued at $1,250,000 after acquiring an additional 254 shares in the last quarter. 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.
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