FedEx (NYSE:FDX) PT Raised to $333.00 at The Goldman Sachs Group

FedEx (NYSE:FDX) had its price target upped by The Goldman Sachs Group from $316.00 to $333.00 in a research note issued to investors on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the shipping service provider’s stock.

Several other brokerages have also recently weighed in on FDX. Stifel Nicolaus dropped their price objective on shares of FedEx from $306.00 to $303.00 and set a buy rating for the company in a research note on Wednesday, April 3rd. Barclays raised their target price on shares of FedEx from $310.00 to $350.00 and gave the company an overweight rating in a report on Friday, March 22nd. BMO Capital Markets raised their target price on shares of FedEx from $290.00 to $310.00 and gave the company a market perform rating in a report on Friday, March 22nd. Bank of America raised their target price on shares of FedEx from $340.00 to $347.00 and gave the company a buy rating in a report on Wednesday. Finally, Evercore ISI decreased their target price on shares of FedEx from $351.00 to $318.00 and set an outperform rating on the stock in a report on Monday. 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 company. Based on data from MarketBeat.com, FedEx has an average rating of Moderate Buy and an average price target of $313.09.

FedEx Price Performance

Shares of FedEx stock opened at $296.19 on Wednesday. FedEx has a twelve month low of $224.69 and a twelve month high of $296.86. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The company has a 50-day simple moving average of $256.13 and a two-hundred day simple moving average of $255.72. The stock has a market capitalization of $72.89 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 0.93 and a beta of 1.16.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.86%. The business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the previous year, the company earned $4.94 EPS. The business’s revenue was up .8% on a year-over-year basis. Analysts forecast that FedEx will post 20.26 EPS for the current year.

FedEx Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is 32.04%.

FedEx declared that its Board of Directors has initiated a share buyback program 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 reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction on Monday, April 8th. The shares were 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,275 shares of company stock worth $32,177,298. Company insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lazari Capital Management Inc. bought a new stake in FedEx during the 1st quarter valued at $202,000. Keynote Financial Services LLC bought a new stake in FedEx during the 1st quarter valued at $288,000. EverSource Wealth Advisors LLC increased its stake in FedEx by 0.4% during the 1st 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 stake in FedEx by 45.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 148,573 shares of the shipping service provider’s stock valued at $42,610,000 after purchasing an additional 46,244 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in FedEx during the 1st quarter valued at $89,000. Institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

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.