Brokerages Set FedEx Co. (NYSE:FDX) Target Price at $316.04

FedEx Co. (NYSE:FDX) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $316.04.

Several research analysts recently commented on the company. Raymond James lowered their target price on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. TD Cowen lowered their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Loop Capital dropped their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Evermay Wealth Management LLC boosted its position in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of FedEx in the third quarter valued at about $31,000. Central Valley Advisors LLC purchased a new stake in FedEx during the second quarter worth about $39,000. Abound Wealth Management grew its position in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in FedEx in the third quarter valued at about $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $302.67 on Tuesday. The company has a market cap of $73.95 billion, a P/E ratio of 18.67, a P/E/G ratio of 1.27 and a beta of 1.17. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock has a 50-day moving average of $277.83 and a two-hundred day moving average of $278.98.

FedEx (NYSE:FDX) last released its 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). The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $4.55 earnings per share. As a group, analysts anticipate that FedEx will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. FedEx’s dividend payout ratio is currently 34.05%.

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.