FedEx (NYSE:FDX) Receives “Outperform” Rating from Robert W. Baird

Robert W. Baird reaffirmed their outperform rating on shares of FedEx (NYSE:FDX) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $340.00 target price on the shipping service provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Stephens reissued an overweight rating and set a $325.00 target price on shares of FedEx in a research note on Wednesday, June 26th. Evercore ISI lowered their price objective on shares of FedEx from $339.00 to $335.00 and set an outperform rating on the stock in a research note on Thursday. Morgan Stanley upped their target price on FedEx from $210.00 to $215.00 and gave the stock an equal weight rating in a research report on Wednesday, June 26th. UBS Group lowered their price target on FedEx from $340.00 to $333.00 and set a buy rating on the stock in a research report on Tuesday, May 21st. Finally, Argus upped their price objective on FedEx from $325.00 to $335.00 and gave the company a buy rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $314.67.

FedEx Stock Performance

FDX opened at $286.38 on Friday. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84. The stock has a market cap of $70.47 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The business’s 50 day moving average is $293.17 and its 200-day moving average is $273.36. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the previous year, the business earned $4.94 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts predict that FedEx will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.93%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Activity

In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 in the last 90 days. Company insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several institutional investors have recently made changes to their positions in FDX. SeaCrest Wealth Management LLC grew its holdings in shares of FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC increased its position in FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after acquiring an additional 36 shares in the last quarter. Ascent Wealth Partners LLC raised its stake in shares of FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC lifted its position in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC grew its stake in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.