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

FedEx (NYSE:FDX) had its price objective boosted by Wells Fargo & Company from $305.00 to $320.00 in a report released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the shipping service provider’s stock.

Other equities research analysts also recently issued reports about the stock. TD Cowen raised their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Barclays raised their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, StockNews.com downgraded FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Price Performance

Shares of NYSE:FDX opened at $275.73 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $67.37 billion, a PE ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. The firm has a 50 day moving average of $282.71 and a 200-day moving average of $282.10. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84.

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

FedEx Dividend Announcement

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

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. International Assets Investment Management LLC increased its holdings in shares of FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after acquiring an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after buying an additional 314,380 shares in the last quarter. World Investment Advisors LLC grew its holdings in shares of FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after buying an additional 183,940 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after acquiring an additional 161,022 shares during the last quarter. 84.47% of the stock is owned by 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.