FedEx (NYSE:FDX) Price Target Raised to $373.00

FedEx (NYSE:FDX) had its target price hoisted by Citigroup from $359.00 to $373.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the shipping service provider’s stock.

FDX has been the topic of a number of other research reports. Stifel Nicolaus lowered their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Citizens Jmp began coverage on FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price for the company. Sanford C. Bernstein set a $397.00 target price on FedEx in a report on Wednesday, June 24th. BNP Paribas Exane raised their price target on FedEx from $269.80 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 30th. Finally, Raymond James Financial set a $330.00 price target on FedEx in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $354.64.

FedEx Stock Performance

Shares of NYSE:FDX opened at $292.16 on Wednesday. FedEx has a 12-month low of $179.69 and a 12-month high of $345.36. The company’s 50 day moving average price is $311.57 and its two-hundred day moving average price is $336.29. The firm has a market cap of $69.14 billion, a PE ratio of 15.78, a PEG ratio of 1.56 and a beta of 1.28. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The company had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Equities research analysts predict that FedEx will post 17.53 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, September 14th. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Hedge Funds Weigh In On FedEx

A number of institutional investors have recently modified their holdings of the business. OMERS ADMINISTRATION Corp grew its position in FedEx by 104.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock valued at $6,169,000 after acquiring an additional 8,868 shares during the last quarter. First Nebraska Trust Co bought a new position in shares of FedEx in the first quarter worth about $10,675,000. NewEdge Advisors LLC boosted its stake in shares of FedEx by 74.1% in the 2nd quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider’s stock valued at $10,757,000 after purchasing an additional 14,624 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of FedEx by 48.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 63,855 shares of the shipping service provider’s stock valued at $18,445,000 after purchasing an additional 20,940 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its holdings in shares of FedEx by 39.5% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 12,926 shares of the shipping service provider’s stock valued at $3,734,000 after purchasing an additional 3,661 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Company Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.