FedEx (NYSE:FDX) Price Target Raised to $320.00

FedEx (NYSE:FDX) had its price objective lifted by Raymond James from $305.00 to $320.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the shipping service provider’s stock.

FDX has been the subject of a number of other research reports. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Friday, September 20th. Citigroup raised their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stephens decreased their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. raised their price objective on FedEx from $366.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Robert W. Baird reduced their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Stock Performance

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

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the company posted $3.99 EPS. The company’s revenue was down .7% compared to the same quarter last year. On average, research analysts anticipate that FedEx will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of FedEx in the 3rd quarter valued at about $31,000. Abound Wealth Management grew its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in FedEx during the third quarter worth approximately $47,000. Finally, Sachetta LLC lifted its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.