Brokerages Set FedEx Co. (NYSE:FDX) Target Price at $292.54

FedEx Co. (NYSE:FDX) has earned an average recommendation of “Moderate Buy” from the thirty ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $292.54.

A number of research firms have commented on FDX. Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Wells Fargo & Company reduced their price objective on FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Sanford C. Bernstein reduced their price objective on FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Finally, Stephens reaffirmed an “overweight” rating and set a $300.00 price target on shares of FedEx in a research note on Tuesday, May 20th.

FedEx Stock Performance

Shares of NYSE:FDX opened at $226.52 on Friday. The business’s fifty day moving average price is $217.40 and its two-hundred day moving average price is $246.05. FedEx has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The stock has a market capitalization of $54.27 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $3.86 earnings per share. As a group, analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.56%. This is a positive change from FedEx’s previous quarterly dividend of $1.38. FedEx’s dividend payout ratio (DPR) is currently 36.39%.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently modified their holdings of the business. Transce3nd LLC bought a new position in shares of FedEx during the fourth quarter worth about $26,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx during the fourth quarter worth about $28,000. Runnymede Capital Advisors Inc. bought a new position in shares of FedEx during the fourth quarter worth about $32,000. Accredited Wealth Management LLC bought a new position in shares of FedEx during the fourth quarter worth about $35,000. Finally, Abound Financial LLC bought a new position in shares of FedEx during the first quarter worth about $38,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

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.