FedEx (NYSE:FDX) Price Target Increased to $300.00 by Analysts at Wells Fargo & Company

FedEx (NYSE:FDX) had its price objective hoisted by Wells Fargo & Company from $275.00 to $300.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the shipping service provider’s stock.

A number of other equities analysts have also recently weighed in on FDX. Robert W. Baird increased their price target on FedEx from $325.00 to $340.00 and gave the stock an outperform rating in a report on Wednesday. BMO Capital Markets increased their target price on FedEx from $290.00 to $310.00 and gave the stock a market perform rating in a research note on Friday, March 22nd. Bank of America increased their target price on FedEx from $340.00 to $347.00 and gave the stock a buy rating in a research note on Wednesday. JPMorgan Chase & Co. raised FedEx from a neutral rating to an overweight rating and increased their target price for the stock from $296.00 to $359.00 in a research note on Wednesday. Finally, Jefferies Financial Group increased their target price on FedEx from $265.00 to $300.00 and gave the stock a hold rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $313.09.

FedEx Stock Performance

NYSE FDX opened at $296.19 on Wednesday. The stock has a market cap of $72.89 billion, a PE ratio of 17.19, a P/E/G ratio of 0.93 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. FedEx has a twelve month low of $224.69 and a twelve month high of $296.86. The stock has a fifty day simple moving average of $256.13 and a 200-day simple moving average of $255.72.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.86% and a net margin of 4.94%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.94 EPS. Equities analysts anticipate that FedEx will post 20.26 earnings per share for the current year.

FedEx announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

FedEx Increases Dividend

The firm 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 dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Transactions at FedEx

In related news, CEO Richard W. Smith sold 1,325 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the transaction, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now owns 6,294 shares in the company, valued at approximately $1,735,192.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard W. Smith sold 1,325 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,275 shares of company stock valued at $32,177,298. Corporate insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in shares of FedEx in the 4th quarter valued at approximately $25,000. Fortis Group Advisors LLC grew its stake in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Financial Management Professionals Inc. grew its stake in shares of FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in shares of FedEx in the 4th quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. purchased a new position in shares of FedEx in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.