FedEx Corporation (FDX) Given Consensus Rating of “Buy” by Brokerages

FedEx Corporation (NYSE:FDX) has been given a consensus rating of “Buy” by the twenty-four brokerages that are presently covering the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $194.53.

A number of brokerages recently issued reports on FDX. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $210.00 price objective (up from $184.00) on shares of FedEx Corporation in a report on Wednesday, December 14th. Vetr lowered FedEx Corporation from a “buy” rating to a “hold” rating and set a $200.57 price objective for the company. in a report on Tuesday, December 20th. Morgan Stanley set a $135.00 price objective on FedEx Corporation and gave the stock a “neutral” rating in a report on Wednesday, December 21st. Credit Suisse Group set a $205.00 price objective on FedEx Corporation and gave the stock a “buy” rating in a report on Wednesday, December 21st. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $233.00 price target on shares of FedEx Corporation in a research note on Wednesday, December 21st.

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In related news, EVP Robert B. Carter sold 34,580 shares of the stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $191.22, for a total value of $6,612,387.60. Following the completion of the sale, the executive vice president now owns 77,062 shares in the company, valued at $14,735,795.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David J. Bronczek sold 36,529 shares of the stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $192.08, for a total transaction of $7,016,490.32. Following the completion of the sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at approximately $16,080,169.28. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC acquired a new position in shares of FedEx Corporation during the third quarter worth approximately $215,531,000. Ameriprise Financial Inc. boosted its position in shares of FedEx Corporation by 23.3% in the third quarter. Ameriprise Financial Inc. now owns 3,685,675 shares of the shipping service provider’s stock worth $643,835,000 after buying an additional 696,512 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of FedEx Corporation during the third quarter worth approximately $113,014,000. BlackRock Institutional Trust Company N.A. boosted its position in shares of FedEx Corporation by 8.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,119,340 shares of the shipping service provider’s stock worth $1,243,606,000 after buying an additional 567,107 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of FedEx Corporation by 2,120.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 556,853 shares of the shipping service provider’s stock worth $103,710,000 after buying an additional 531,775 shares in the last quarter. Institutional investors and hedge funds own 75.22% of the company’s stock.

Shares of FedEx Corporation (NYSE:FDX) traded down 0.28% during mid-day trading on Tuesday, reaching $192.04. The company’s stock had a trading volume of 542,826 shares. The firm has a market capitalization of $51.18 billion, a P/E ratio of 28.22 and a beta of 1.14. The company’s 50-day moving average is $188.80 and its 200 day moving average is $178.90. FedEx Corporation has a 1-year low of $125.39 and a 1-year high of $201.57.

FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 20th. The shipping service provider reported $2.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.90 by $0.10. FedEx Corporation had a return on equity of 22.02% and a net margin of 3.35%. The business earned $14.90 billion during the quarter. During the same period last year, the business earned $2.58 earnings per share. FedEx Corporation’s quarterly revenue was up 19.2% on a year-over-year basis. On average, analysts expect that FedEx Corporation will post $11.97 earnings per share for the current year.

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.

5 Day Chart for NYSE:FDX

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