FedEx (NYSE:FDX) Price Target Raised to $337.00

FedEx (NYSE:FDX) had its price objective boosted by TD Cowen from $328.00 to $337.00 in a report published on Friday, Marketbeat reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

A number of other research firms also recently commented on FDX. HSBC downgraded 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. UBS Group cut their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Stifel Nicolaus decreased their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. JPMorgan Chase & Co. raised their target price on FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Bank of America decreased their price target on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.88.

FedEx Stock Down 0.1 %

FedEx stock opened at $275.73 on Friday. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market cap of $67.37 billion, a PE ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18. The firm’s 50 day moving average price is $282.71 and its two-hundred day moving average price is $281.85.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is 34.05%.

Institutional Investors Weigh In On FedEx

Several large investors have recently modified their holdings of FDX. International Assets Investment Management LLC boosted its stake 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 buying an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. boosted its stake 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 valued at $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Franklin Resources Inc. grew 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 last quarter. World Investment Advisors LLC grew its holdings in shares of FedEx by 2,163.7% in 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. Finally, Ceredex Value Advisors LLC lifted its holdings in FedEx by 77.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares during the last quarter. 84.47% of the stock is currently owned by 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.