Barclays Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its price objective increased by Barclays from $350.00 to $365.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the shipping service provider’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Stifel Nicolaus dropped their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Friday, September 20th. Citigroup lifted their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Trading Up 0.7 %

Shares of FDX opened at $294.46 on Wednesday. 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 firm has a 50-day moving average price of $275.40 and a 200 day moving average price of $276.37. FedEx has a 12-month low of $234.45 and a 12-month high of $313.84. The firm has a market capitalization of $71.94 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.17 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the business earned $4.55 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts forecast that FedEx will post 19.59 EPS for the current year.

FedEx Announces Dividend

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 given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. FedEx’s dividend payout ratio is presently 34.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Capital International Investors grew its stake in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. International Assets Investment Management LLC raised its position in FedEx by 473.8% in the 3rd 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 purchasing an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in FedEx by 34.6% during 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. Finally, World Investment Advisors LLC grew its position in FedEx by 2,163.7% during the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after purchasing an additional 183,940 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other 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.