FedEx (NYSE:FDX) Price Target Raised to $215.00

FedEx (NYSE:FDX) had its price target upped by Morgan Stanley from $210.00 to $215.00 in a research note published on Wednesday, Benzinga reports. They currently have an equal weight rating on the shipping service provider’s stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $301.00 to $296.00 and set a neutral rating for the company in a research note on Friday, May 24th. Oppenheimer reaffirmed a market perform rating on shares of FedEx in a report on Friday, March 22nd. UBS Group cut their target price on FedEx from $340.00 to $333.00 and set a buy rating for the company in a research note on Tuesday, May 21st. Raymond James decreased their price target on FedEx from $325.00 to $300.00 and set an outperform rating on the stock in a research note on Monday, June 24th. Finally, Evercore ISI cut their price objective on FedEx from $351.00 to $318.00 and set an outperform rating for the company in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $314.00.

FedEx Stock Performance

NYSE FDX opened at $299.84 on Wednesday. The firm has a market cap of $73.78 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.06 and a beta of 1.16. FedEx has a 52-week low of $224.69 and a 52-week high of $302.41. The business’s 50-day moving average price is $258.10 and its 200 day moving average price is $256.48. The company has a quick ratio of 1.26, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same period last year, the business posted $4.94 EPS. The company’s revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that FedEx will post 20.53 earnings per share for the current year.

FedEx declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the transaction, the chief executive officer now owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $278.24, for a total value of $368,668.00. Following the sale, the chief executive officer now directly owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,810 shares of company stock worth $32,924,413. 8.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FDX. Fidelis Capital Partners LLC boosted its position in shares of FedEx by 4.1% in the first quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock worth $285,000 after buying an additional 39 shares during the period. KRS Capital Management LLC grew its position in FedEx by 4.1% in the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after acquiring an additional 41 shares in the last quarter. Zullo Investment Group Inc. lifted its position in shares of FedEx by 0.7% during the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after purchasing an additional 42 shares in the last quarter. Regent Peak Wealth Advisors LLC boosted its stake in shares of FedEx by 3.5% in the first quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock valued at $369,000 after purchasing an additional 43 shares during the period. Finally, Toth Financial Advisory Corp lifted its holdings in FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after buying an additional 44 shares in the last quarter. Hedge funds and other 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.