FedEx (NYSE:FDX) PT Raised to $300.00 at Jefferies Financial Group

FedEx (NYSE:FDXFree Report) had its price target hoisted by Jefferies Financial Group from $265.00 to $300.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a hold rating on the shipping service provider’s stock.

A number of other equities analysts have also recently issued reports on FDX. Robert W. Baird raised their price objective on shares of FedEx from $315.00 to $325.00 and gave the company an outperform rating in a research note on Friday. TD Cowen raised their price objective on shares of FedEx from $293.00 to $320.00 and gave the company an outperform rating in a research note on Friday. Stifel Nicolaus reduced their price target on shares of FedEx from $305.00 to $290.00 and set a buy rating on the stock in a research report on Thursday, March 21st. Morgan Stanley lifted their price target on shares of FedEx from $195.00 to $210.00 and gave the stock an equal weight rating in a research report on Friday. Finally, Oppenheimer restated a market perform rating on shares of FedEx in a report on Friday. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx currently has a consensus rating of Moderate Buy and a consensus price target of $300.70.

Read Our Latest Analysis on FDX

FedEx Stock Down 0.6 %

NYSE FDX opened at $282.57 on Friday. FedEx has a twelve month low of $213.80 and a twelve month high of $291.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a market cap of $69.53 billion, a PE ratio of 16.30, a PEG ratio of 1.35 and a beta of 1.20. The firm has a 50-day simple moving average of $247.18 and a 200 day simple moving average of $251.63.

FedEx (NYSE:FDXGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $3.41 earnings per share. On average, research analysts forecast that FedEx will post 17.49 EPS for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be given a dividend of $1.26 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.78%. FedEx’s dividend payout ratio is 29.07%.

FedEx announced that its board has initiated a stock buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred on Thursday, December 28th. The shares were acquired at an average price of $252.02 per share, for a total transaction of $252,020.00. Following the transaction, the executive vice president now owns 4,745 shares of the company’s stock, valued at approximately $1,195,834.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Camarda Financial Advisors LLC raised its holdings in FedEx by 0.6% in the 2nd quarter. Camarda Financial Advisors LLC now owns 6,419 shares of the shipping service provider’s stock worth $1,591,000 after purchasing an additional 40 shares in the last quarter. M&R Capital Management Inc. grew its position in shares of FedEx by 0.3% in the 3rd quarter. M&R Capital Management Inc. now owns 16,192 shares of the shipping service provider’s stock worth $4,289,000 after buying an additional 41 shares during the period. KRS Capital Management LLC grew its position in FedEx by 4.1% during the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after purchasing an additional 41 shares during the last quarter. Zullo Investment Group Inc. grew its position in FedEx by 0.7% during the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after purchasing an additional 42 shares during the last quarter. Finally, Toth Financial Advisory Corp grew its position in FedEx by 18.0% during the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

About FedEx

(Get Free Report)

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.

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