In yesterday’s Wall Street session, FedEx Corporation (NYSE:FDX) shares traded at $261.85, up 4.52% from the previous session.
As of this writing, 31 analysts cover FedEx Corporation (NYSE:FDX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $330.00 and a low of $205.00, we find $289.50. Given the previous closing price of $250.52, this indicates a potential upside of 15.56 percent. FDX stock price is now 0.49% away from the 50-day moving average and 16.93% away from the 200-day moving average. The market capitalization of the company currently stands at $66.62B.
There are 13 analysts who have given it a hold rating, whereas 14 have given it a buy rating. Brokers who have rated the stock have averaged $283.65 as their price target over the next twelve months.
With the price target enhanced from $275 to $276, Evercore ISI maintained Outperform rating for FedEx Corporation (NYSE: FDX).
In other news, Lenz Michael C., EVP CHIEF FINANCIAL OFF sold 5,745 shares of the company’s stock on Jul 20. The stock was sold for $1,504,474 at an average price of $261.88. Upon completion of the transaction, the EVP CHIEF FINANCIAL OFF now directly owns 22,478 shares in the company, valued at $5.89 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 28, EVP / Chief Info Officer CARTER ROBERT B sold 19,270 shares of the business’s stock. A total of $4,740,420 was realized by selling the stock at an average price of $246.00. This leaves the insider owning 58,875 shares of the company worth $15.42 million. Insiders disposed of 193,115 shares of company stock worth roughly $50.57 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FDX stock. A new stake in FedEx Corporation shares was purchased by MARSHALL WACE, LLP during the first quarter worth $159,260,000. RENAISSANCE TECHNOLOGIES LLC invested $114,900,000 in shares of FDX during the first quarter. In the first quarter, CEREDEX VALUE ADVISORS LLC acquired a new stake in FedEx Corporation valued at approximately $94,678,000. TWIN TREE MANAGEMENT, LP acquired a new stake in FDX for approximately $69,404,000. SENATOR INVESTMENT GROUP LP purchased a new stake in FDX valued at around $58,916,000 in the second quarter. In total, there are 2,032 active investors with 74.80% ownership of the company’s stock.
Thursday morning saw FedEx Corporation (NYSE: FDX) opened at $262.00. During the past 12 months, FedEx Corporation has had a low of $141.92 and a high of $270.95. As of last week, the company has a debt-to-equity ratio of 0.79, a current ratio of 1.40, and a quick ratio of 1.30. According to the stock market information, the enterprise value for the company is $97.00B, which is based on a 16.87 price-to-earnings ratio, a 3.53 price-to-earnings-growth ratio, and a beta of 1.36. The fifty day moving average price for FDX is $260.58 and a two-hundred day moving average price translates $224.34 for the stock.
The latest earnings results from FedEx Corporation (NYSE: FDX) was released for Aug, 2023. According to the Integrated Freight & Logistics Company, earnings per share came in at $4.55, beating analysts’ expectations of $3.73 by 0.82. This compares to $3.34 EPS in the same period last year. The net profit margin was 4.40% and return on equity was 15.90% for FDX. The company reported revenue of $21.68 billion for the quarter, compared to $23.24 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.72 percent. For the current quarter, analysts expect FDX to generate $22.52B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/02/2023. Investors who held shares on 09/11/2023 were paid a $1.26 dividend. On an annualized basis, this represents a $5.04 dividend and a 1.92% percent yield. There was an ex-dividend date of 09/08/2023 for this dividend. In terms of dividend payout ratio, FDX is presently at 29.40%.
FedEx Corporation(FDX) Company Profile
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. The FedEx Ground segment provides small-package ground delivery services. The FedEx Freight segment offers less-than-truckload freight transportation services. The FedEx Services segment provides sales, marketing, information technology, communications, customer service, technical support, billing and collection, and back-office support services. In addition, the company offers supply chain management solutions; and air and ocean cargo transportation, specialty transportation, customs brokerage, and trade management tools and data. The company was founded in 1971 and is headquartered in Memphis, Tennessee.
