FedEx (NYSE:FDX) Price Target Raised to $270.00 at Wells Fargo & Company

FedEx (NYSE:FDX) had its target price hoisted by Wells Fargo & Company from $240.00 to $270.00 in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has an equal weight rating on the shipping service provider’s stock.

A number of other research firms also recently commented on FDX. Deutsche Bank Aktiengesellschaft boosted their target price on shares of FedEx from $240.00 to $282.00 in a report on Thursday, May 18th. Credit Suisse Group lowered their target price on shares of FedEx from $273.00 to $265.00 in a research note on Wednesday, June 21st. Loop Capital lowered their target price on shares of FedEx from $263.00 to $255.00 in a research note on Thursday, June 22nd. Stephens reissued an overweight rating and issued a $290.00 price target on shares of FedEx in a report on Friday, August 11th. Finally, Bank of America reduced their price target on shares of FedEx from $295.00 to $290.00 in a report on Wednesday, June 21st. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $249.50.

FedEx Stock Performance

Shares of FDX stock opened at $251.47 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.33 and a current ratio of 1.37. FedEx has a 1 year low of $141.92 and a 1 year high of $270.95. The stock’s 50-day moving average is $260.68 and its two-hundred day moving average is $237.25. The firm has a market cap of $63.25 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.23 and a beta of 1.36.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.85 by $0.09. The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.55 billion. FedEx had a return on equity of 15.32% and a net margin of 4.41%. FedEx’s revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.87 earnings per share. Analysts predict that FedEx will post 17.33 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, September 8th. FedEx’s payout ratio is currently 32.52%.

Insider Transactions at FedEx

In related news, EVP Michael C. Lenz sold 5,745 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $261.88, for a total value of $1,504,500.60. Following the transaction, the executive vice president now directly owns 22,478 shares of the company’s stock, valued at approximately $5,886,538.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Robert B. Carter sold 19,270 shares of FedEx stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $246.00, for a total transaction of $4,740,420.00. Following the transaction, the executive vice president now owns 58,875 shares in the company, valued at approximately $14,483,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael C. Lenz sold 5,745 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $261.88, for a total value of $1,504,500.60. Following the sale, the executive vice president now owns 22,478 shares of the company’s stock, valued at $5,886,538.64. The disclosure for this sale can be found here. Insiders sold 35,816 shares of company stock valued at $8,822,147 over the last 90 days. 8.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FDX. Lavaca Capital LLC boosted its holdings in shares of FedEx by 71.4% during the first quarter. Lavaca Capital LLC now owns 2,946 shares of the shipping service provider’s stock worth $651,000 after purchasing an additional 1,227 shares during the period. Truist Financial Corp raised its stake in shares of FedEx by 1.3% during the 1st quarter. Truist Financial Corp now owns 111,459 shares of the shipping service provider’s stock worth $25,467,000 after purchasing an additional 1,457 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of FedEx by 5.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,202 shares of the shipping service provider’s stock valued at $503,000 after buying an additional 104 shares in the last quarter. Foundations Investment Advisors LLC acquired a new stake in FedEx in the first quarter valued at approximately $405,000. Finally, GW&K Investment Management LLC bought a new stake in FedEx in the first quarter worth approximately $27,000. Institutional investors and hedge funds own 73.61% 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.