FedEx (NYSE:FDX) PT Raised to $340.00

FedEx (NYSE:FDX) had its price target hoisted by Robert W. Baird from $325.00 to $340.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the shipping service provider’s stock.

Other analysts have also recently issued reports about the stock. UBS Group decreased their target price on shares of FedEx from $340.00 to $333.00 and set a buy rating on the stock in a research report on Tuesday, May 21st. BNP Paribas reissued an underperform rating and set a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. BMO Capital Markets upped their price target on shares of FedEx from $290.00 to $310.00 and gave the stock a market perform rating in a report on Friday, March 22nd. Raymond James reduced their target price on shares of FedEx from $325.00 to $300.00 and set an outperform rating on the stock in a research report on Monday, June 24th. Finally, Evercore ISI reduced their price target on FedEx from $351.00 to $318.00 and set an outperform rating for the company in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $314.00.

FedEx Price Performance

FDX stock opened at $299.84 on Wednesday. The company has a market capitalization of $73.78 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.16. The company’s fifty day moving average price is $258.10 and its 200-day moving average price is $256.36. FedEx has a one year low of $224.69 and a one year high of $302.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.36.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $4.94 earnings per share. On average, equities analysts anticipate that FedEx will post 20.51 EPS for the current fiscal year.

FedEx declared that its board has authorized a stock repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a $1.38 dividend. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insiders Place Their Bets

In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total value of $368,668.00. Following the completion of the sale, the chief executive officer now directly owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders have sold a total of 119,810 shares of company stock valued at $32,924,413 in the last 90 days. 8.73% of the stock is owned by insiders.

Hedge Funds Weigh In On FedEx

Several large investors have recently made changes to their positions in FDX. Lazari Capital Management Inc. purchased a new stake in shares of FedEx in the 1st quarter valued at $202,000. Keynote Financial Services LLC purchased a new position in shares of FedEx in the first quarter valued at approximately $288,000. EverSource Wealth Advisors LLC grew its holdings in shares of FedEx by 0.4% in the first quarter. EverSource Wealth Advisors LLC now owns 12,496 shares of the shipping service provider’s stock valued at $3,621,000 after purchasing an additional 45 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of FedEx by 45.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 148,573 shares of the shipping service provider’s stock worth $42,610,000 after acquiring an additional 46,244 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of FedEx during the 1st quarter worth $89,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.