FedEx (NYSE:FDX) Given New $235.00 Price Target at Wells Fargo & Company

FedEx (NYSE:FDX) had its price objective lifted by Wells Fargo & Company from $220.00 to $235.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the shipping service provider’s stock.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 target price for the company. Wall Street Zen cut FedEx from a “buy” rating to a “hold” rating in a report on Friday, May 30th. JPMorgan Chase & Co. lowered their target price on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Stifel Nicolaus lowered their target price on FedEx from $354.00 to $329.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $285.75.

FedEx Price Performance

FDX opened at $222.07 on Wednesday. The business has a fifty day moving average of $219.48 and a 200 day moving average of $243.71. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.73. The stock has a market cap of $53.21 billion, a P/E ratio of 13.16, a PEG ratio of 1.15 and a beta of 1.35. FedEx has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.54%. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same period last year, the company posted $5.41 earnings per share. As a group, sell-side analysts anticipate that FedEx will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be given a $1.45 dividend. This is a boost from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.61%. FedEx’s dividend payout ratio (DPR) is presently 36.39%.

Institutional Trading of FedEx

Institutional investors have recently made changes to their positions in the business. Transce3nd LLC acquired a new position in shares of FedEx in the fourth quarter valued at about $26,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of FedEx in the fourth quarter valued at about $28,000. Runnymede Capital Advisors Inc. acquired a new position in shares of FedEx in the fourth quarter valued at about $32,000. Accredited Wealth Management LLC acquired a new position in shares of FedEx in the fourth quarter valued at about $35,000. Finally, Optiver Holding B.V. acquired a new position in shares of FedEx in the fourth quarter valued at about $39,000. Institutional investors and hedge funds 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.