FedEx (NYSE:FDX) Price Target Raised to $370.00

FedEx (NYSE:FDX) had its price target raised by JPMorgan Chase & Co. from $366.00 to $370.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the shipping service provider’s stock.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group dropped their price objective on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Robert W. Baird reduced 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $324.88.

FedEx Stock Performance

Shares of FDX stock opened at $275.73 on Friday. The stock 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 has a one year low of $234.45 and a one year high of $313.84. The company’s 50-day simple moving average is $282.71 and its 200-day simple moving average is $282.10. 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 released its 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. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter last year, the business posted $3.99 EPS. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Evermay Wealth Management LLC lifted its holdings in 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 acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth approximately $31,000. Abound Wealth Management lifted its stake 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. Harbor Capital Advisors Inc. bought a new stake in FedEx during the third quarter worth approximately $47,000. Finally, Sachetta LLC grew its position in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

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.