FedEx (NYSE:FDX) Price Target Raised to $337.00

FedEx (NYSE:FDX) had its target price raised by TD Cowen from $328.00 to $337.00 in a research note published on Friday, MarketBeat reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

A number of other equities analysts have also recently weighed in on the company. Robert W. Baird cut their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. UBS Group dropped their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. Evercore ISI decreased their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Stock Performance

NYSE:FDX opened at $275.73 on Friday. The company’s 50-day moving average is $282.71 and its two-hundred day moving average is $282.10. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The firm has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18.

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

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend 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 Trading of FedEx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evermay Wealth Management LLC grew its position in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx in the third quarter valued at $31,000. Abound Wealth Management grew its holdings in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx during the third quarter worth about $47,000. Finally, Sachetta LLC lifted its holdings in shares of FedEx by 29.1% in the 2nd 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. 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.