FedEx (NYSE:FDX) Price Target Raised to $330.00

FedEx (NYSE:FDX) had its price objective hoisted by BMO Capital Markets from $300.00 to $330.00 in a report published on Friday,Benzinga reports. They currently have a market perform rating on the shipping service provider’s stock.

FDX has been the subject of several other research reports. Robert W. Baird reduced their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Evercore ISI decreased their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. TD Cowen lifted their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday. Barclays increased 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, Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Trading Down 0.1 %

NYSE:FDX opened at $275.73 on Friday. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The firm has a 50-day moving average price of $282.71 and a two-hundred day moving average price of $282.10. The firm has a market cap 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 debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

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

FedEx Announces Dividend

The firm also recently disclosed 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 is Monday, December 9th. FedEx’s dividend payout ratio is 35.18%.

Hedge Funds Weigh In On FedEx

Institutional investors have recently added to or reduced their stakes in the business. 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 in the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx in the third quarter valued at approximately $31,000. Abound Wealth Management lifted its position in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC grew its stake in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of FedEx in the 3rd quarter worth $47,000. 84.47% of the stock is currently owned by institutional investors.

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.