FedEx (NYSE:FDX) Given New $259.00 Price Target at Citigroup

FedEx (NYSE:FDX) had its price target decreased by Citigroup from $267.00 to $259.00 in a research report report published on Wednesday morning, Marketbeat.com reports. Citigroup currently has a buy rating on the shipping service provider’s stock.

Several other equities research analysts also recently issued reports on FDX. UBS Group lowered their price target on FedEx from $311.00 to $297.00 and set a “buy” rating on the stock in a research report on Wednesday. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Susquehanna raised their price target on FedEx from $290.00 to $295.00 and gave the company a “positive” rating in a research report on Wednesday. Barclays lowered their price target on FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets lowered their price target on FedEx from $275.00 to $260.00 and set a “market perform” rating on the stock in a research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $285.75.

FedEx Price Performance

NYSE FDX opened at $222.07 on Wednesday. FedEx has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The stock’s 50-day moving average is $219.48 and its two-hundred day moving average is $243.71. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. The firm has a market cap of $53.21 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.54% and a net margin of 4.65%. The company 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 earned $5.41 earnings per share. On average, analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. 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 annualized dividend and a dividend yield of 2.61%. FedEx’s payout ratio is presently 36.39%.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Brighton Jones LLC lifted its position in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after buying an additional 207 shares in the last quarter. IFP Advisors Inc lifted its position in FedEx by 10.7% during the 4th quarter. IFP Advisors Inc now owns 6,773 shares of the shipping service provider’s stock worth $1,906,000 after buying an additional 652 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in FedEx during the 4th quarter worth about $227,000. Delta Financial Advisors LLC lifted its position in FedEx by 0.9% during the 4th quarter. Delta Financial Advisors LLC now owns 7,235 shares of the shipping service provider’s stock worth $2,035,000 after buying an additional 65 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in FedEx during the 4th quarter worth about $672,000. 84.47% of the stock is owned by institutional investors.

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.