Analysts Set FedEx Co. (NYSE:FDX) Target Price at $297.50

FedEx Co. (NYSE:FDX – Get Rating) has earned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $297.50.

A number of brokerages recently weighed in on FDX. Credit Suisse Group set a $314.00 price objective on FedEx in a report on Thursday, July 7th. Deutsche Bank Aktiengesellschaft set a $320.00 price target on FedEx in a research note on Thursday, June 30th. Berenberg Bank cut FedEx from a “buy” rating to a “hold” rating and decreased their price target for the stock from $333.00 to $275.00 in a research note on Friday, July 1st. Wells Fargo & Company lifted their price target on FedEx from $277.00 to $282.00 and gave the stock an “overweight” rating in a research note on Friday, June 24th. Finally, Loop Capital lifted their price target on FedEx from $328.00 to $339.00 and gave the stock a “buy” rating in a research note on Monday, June 27th.

FedEx Stock Performance

NYSE:FDX opened at $234.89 on Friday. The business’s 50-day moving average price is $226.31 and its two-hundred day moving average price is $221.90. FedEx has a twelve month low of $192.82 and a twelve month high of $282.88. The stock has a market cap of $61.04 billion, a P/E ratio of 16.43, a PEG ratio of 0.85 and a beta of 1.19. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81.

FedEx (NYSE:FDX – Get Rating) last released its quarterly earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share for the quarter, missing the consensus estimate of $6.91 by ($0.04). The business had revenue of $24.39 billion during the quarter, compared to analysts’ expectations of $24.28 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. During the same period in the previous year, the business earned $5.01 EPS. As a group, equities analysts predict that FedEx will post 23.16 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Monday, June 27th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.96%. This is an increase from FedEx’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, June 24th. FedEx’s payout ratio is 32.17%.

Insiders Place Their Bets

In other FedEx news, EVP Jill Brannon sold 5,620 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $237.00, for a total value of $1,331,940.00. Following the sale, the executive vice president now directly owns 8,113 shares of the company’s stock, valued at $1,922,781. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Robert B. Carter sold 12,310 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $224.67, for a total value of $2,765,687.70. Following the completion of the transaction, the executive vice president now owns 54,916 shares in the company, valued at $12,337,977.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jill Brannon sold 5,620 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $237.00, for a total value of $1,331,940.00. Following the completion of the transaction, the executive vice president now owns 8,113 shares of the company’s stock, valued at approximately $1,922,781. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,575 shares of company stock valued at $8,628,768. 8.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of FedEx in the fourth quarter worth $26,000. Activest Wealth Management increased its position in FedEx by 121.6% during the second quarter. Activest Wealth Management now owns 113 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 62 shares during the last quarter. Poplar Forest Capital LLC increased its position in FedEx by 169.8% during the second quarter. Poplar Forest Capital LLC now owns 117,181 shares of the shipping service provider’s stock valued at $27,000 after acquiring an additional 73,751 shares during the last quarter. Holloway Wealth Management LLC purchased a new stake in FedEx during the first quarter valued at $29,000. Finally, American National Bank increased its position in FedEx by 206.7% during the second quarter. American National Bank now owns 138 shares of the shipping service provider’s stock valued at $31,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 79.92% of the company’s stock.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.