FedEx (NYSE:FDX) Price Target Increased to $300.00 by Analysts at Wells Fargo & Company

FedEx (NYSE:FDX) had its target price lifted by Wells Fargo & Company from $275.00 to $300.00 in a research note published on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the shipping service provider’s stock.

Several other research analysts have also issued reports on the company. Stifel Nicolaus restated a buy rating and issued a $327.00 price target (up from $303.00) on shares of FedEx in a research report on Wednesday. BMO Capital Markets raised their price target on FedEx from $290.00 to $310.00 and gave the stock a market perform rating in a research report on Friday, March 22nd. Stephens restated an overweight rating and issued a $325.00 price target on shares of FedEx in a research report on Wednesday. Jefferies Financial Group raised their price target on FedEx from $265.00 to $300.00 and gave the stock a hold rating in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. upgraded FedEx from a neutral rating to an overweight rating and raised their price target for the stock from $296.00 to $359.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $314.00.

FedEx Stock Up 1.5 %

Shares of FDX opened at $299.84 on Wednesday. The firm has a market capitalization of $73.78 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.09 and a beta of 1.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.36. The business’s fifty day moving average price is $258.10 and its two-hundred day moving average price is $256.36. FedEx has a 52 week low of $224.69 and a 52 week high of $302.41.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $4.94 EPS. On average, analysts predict that FedEx will post 20.51 earnings per share for the current year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be given a $1.38 dividend. The ex-dividend date is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 32.04%.

FedEx announced that its board has initiated a share repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,810 shares of company stock valued at $32,924,413. 8.73% of the stock is owned by insiders.

Institutional Investors Weigh In On FedEx

A number of institutional investors have recently made changes to their positions in FDX. Operose Advisors LLC bought a new stake in shares of FedEx during the third quarter worth approximately $52,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of FedEx by 70.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 12,130 shares of the shipping service provider’s stock worth $3,213,000 after acquiring an additional 5,003 shares during the period. Mather Group LLC. boosted its stake in shares of FedEx by 92.3% in the third quarter. Mather Group LLC. now owns 3,892 shares of the shipping service provider’s stock valued at $1,031,000 after buying an additional 1,868 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of FedEx by 25.5% in the third quarter. Tower Research Capital LLC TRC now owns 15,640 shares of the shipping service provider’s stock valued at $4,143,000 after buying an additional 3,182 shares during the period. Finally, Cape Cod Five Cents Savings Bank boosted its stake in shares of FedEx by 106.1% in the third quarter. Cape Cod Five Cents Savings Bank now owns 2,358 shares of the shipping service provider’s stock valued at $625,000 after buying an additional 1,214 shares during the period. Institutional investors own 84.47% of the company’s stock.

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.