FedEx (NYSE:FDX) Price Target Raised to $350.00

FedEx (NYSE:FDX) had its target price boosted by UBS Group from $311.00 to $350.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

Several other research analysts also recently commented on the company. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Bernstein Bank upped their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Raymond James decreased their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Citigroup upped their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $324.88.

FedEx Stock 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. FedEx has a 12-month low of $234.45 and a 12-month high of $313.84. The firm 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 firm has a 50 day moving average of $282.71 and a 200 day moving average of $282.10.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) 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 firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the previous year, the firm posted $3.99 EPS. The company’s revenue for the quarter 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 disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. FedEx’s payout ratio is currently 35.18%.

Institutional Trading of FedEx

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after acquiring an additional 67,502 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the period. Dimensional Fund Advisors LP increased its position in shares of FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after buying an additional 11,100 shares during the period. 84.47% of the stock is currently owned by hedge funds and other 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.