FedEx (NYSE:FDX) Price Target Raised to $400.00 at Argus

FedEx (NYSE:FDX) had its price objective hoisted by Argus from $350.00 to $400.00 in a report published on Monday, Marketbeat Ratings reports. They currently have a buy rating on the shipping service provider’s stock.

Several other research analysts have also recently weighed in on FDX. Weiss Ratings reissued a “buy (b-)” rating on shares of FedEx in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $479.00 price objective on shares of FedEx in a research report on Friday, February 13th. Evercore boosted their price objective on FedEx from $364.00 to $380.00 in a research report on Tuesday, February 24th. The Goldman Sachs Group boosted their price objective on FedEx from $364.00 to $369.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Susquehanna boosted their price objective on FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a research report on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $395.77.

FedEx Stock Down 0.8%

FedEx stock opened at $358.74 on Monday. The firm’s 50-day simple moving average is $361.52 and its 200 day simple moving average is $301.70. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. FedEx has a fifty-two week low of $194.29 and a fifty-two week high of $392.86. The stock has a market cap of $85.60 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.59 and a beta of 1.28.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter in the previous year, the firm earned $4.51 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Research analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 9th were paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, March 9th. FedEx’s payout ratio is presently 30.87%.

Institutional Trading of FedEx

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 207 shares during the last quarter. Empowered Funds LLC increased its stake in FedEx by 78.9% in the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after acquiring an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC bought a new position in FedEx in the 2nd quarter worth about $586,000. Fisher Asset Management LLC increased its stake in FedEx by 9.0% in the 2nd quarter. Fisher Asset Management LLC now owns 1,361 shares of the shipping service provider’s stock worth $310,000 after acquiring an additional 112 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in FedEx in the 2nd quarter worth about $186,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.