FedEx (NYSE:FDX) Price Target Raised to $368.00

FedEx (NYSE:FDX) had its target price boosted by Stifel Nicolaus from $321.00 to $368.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the shipping service provider’s stock.

Several other research firms have also recently commented on FDX. StockNews.com cut FedEx from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Stephens reissued an “overweight” rating and set a $350.00 price target on shares of FedEx in a research report on Friday, September 20th. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and upped their price target for the company from $288.00 to $365.00 in a report on Friday. Finally, Wells Fargo & Company increased their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $324.88.

FedEx Stock Down 0.1 %

Shares of NYSE:FDX opened at $275.73 on Friday. The company has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a 50 day moving average of $282.71 and a two-hundred day moving average of $282.10. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the business earned $3.99 EPS. The business’s revenue was down .7% on a year-over-year basis. As a group, analysts forecast that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is 35.18%.

Institutional Investors Weigh In On FedEx

Several large investors have recently made changes to their positions in FDX. &PARTNERS boosted its position in FedEx by 29.6% during the 2nd quarter. &PARTNERS now owns 3,414 shares of the shipping service provider’s stock worth $1,024,000 after acquiring an additional 779 shares during the period. Secure Asset Management LLC lifted its holdings in FedEx by 10.8% in the second quarter. Secure Asset Management LLC now owns 778 shares of the shipping service provider’s stock worth $233,000 after purchasing an additional 76 shares during the period. Quotient Wealth Partners LLC grew its position in FedEx by 6.8% in the 2nd quarter. Quotient Wealth Partners LLC now owns 945 shares of the shipping service provider’s stock valued at $283,000 after buying an additional 60 shares in the last quarter. LRI Investments LLC increased its stake in FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the period. Finally, Fullcircle Wealth LLC bought a new stake in shares of FedEx during the 2nd quarter worth about $268,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx 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.