Edward Jones Lowers FedEx (NYSE:FDX) to Hold

Edward Jones cut shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a research report released on Wednesday, Briefing.com Automated Import reports.

Other research analysts have also issued research reports about the stock. Bank of America reduced their price objective on shares of FedEx from $188.00 to $173.00 and set a neutral rating on the stock in a research note on Friday, May 31st. Stifel Nicolaus lowered shares of FedEx from a buy rating to a hold rating and reduced their price objective for the stock from $185.00 to $171.00 in a research note on Wednesday. ValuEngine lowered shares of FedEx from a hold rating to a sell rating in a research note on Thursday, August 1st. Citigroup reduced their price objective on shares of FedEx from $192.00 to $180.00 and set a buy rating on the stock in a research note on Wednesday, June 26th. Finally, TheStreet lowered shares of FedEx from a b- rating to a c+ rating in a research note on Thursday, June 6th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $175.56.

FedEx stock opened at $148.78 on Wednesday. The company’s 50 day simple moving average is $160.17 and its 200 day simple moving average is $170.42. FedEx has a fifty-two week low of $147.82 and a fifty-two week high of $250.95. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.98 and a beta of 1.69. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.39.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.12). FedEx had a return on equity of 21.15% and a net margin of 0.65%. The firm had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the previous year, the business earned $3.46 EPS. The firm’s revenue was up .0% compared to the same quarter last year. As a group, analysts predict that FedEx will post 12.12 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a $0.65 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.75%. FedEx’s dividend payout ratio (DPR) is presently 16.75%.

In other news, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total value of $4,060,518.00. Following the sale, the executive vice president now directly owns 68,446 shares in the company, valued at $12,031,437.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul S. Walsh sold 4,440 shares of FedEx stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total transaction of $718,747.20. Following the completion of the sale, the director now owns 16,440 shares in the company, valued at $2,661,307.20. The disclosure for this sale can be found here. 8.44% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of FDX. Parnassus Investments CA raised its holdings in shares of FedEx by 2,614.2% in the second quarter. Parnassus Investments CA now owns 3,499,875 shares of the shipping service provider’s stock valued at $574,644,000 after purchasing an additional 3,370,929 shares during the last quarter. BlackRock Inc. raised its holdings in shares of FedEx by 9.5% in the second quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock valued at $2,654,161,000 after purchasing an additional 1,395,988 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of FedEx by 11,911.3% in the second quarter. Nuveen Asset Management LLC now owns 1,118,489 shares of the shipping service provider’s stock valued at $183,645,000 after purchasing an additional 1,109,177 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of FedEx by 40.7% in the first quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock valued at $497,162,000 after purchasing an additional 792,575 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of FedEx by 63.5% in the first quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock valued at $280,985,000 after purchasing an additional 601,465 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

About FedEx

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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Analyst Recommendations for FedEx (NYSE:FDX)

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