Brokerages Set FedEx Co. (NYSE:FDX) Target Price at $313.96

FedEx Co. (NYSE:FDX) has been assigned a consensus rating of “Moderate Buy” from the twenty-six research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $314.67.

Several research analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. UBS Group decreased their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $327.00 target price (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday. Finally, Stephens restated an “overweight” rating and issued a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th.

Insider Activity

In related news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David P. Steiner sold 1,369 shares of FedEx stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total transaction of $407,564.99. Following the transaction, the director now owns 35,183 shares in the company, valued at $10,474,330.93. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 over the last 90 days. 8.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently added to or reduced their stakes in FDX. SeaCrest Wealth Management LLC lifted its holdings in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC grew its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares in the last quarter. Ascent Wealth Partners LLC raised its holdings in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC lifted its position in shares of FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares during the last quarter. Finally, Sachetta LLC lifted its holdings in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $286.38 on Thursday. The firm has a market capitalization of $70.47 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx has a 12 month low of $224.69 and a 12 month high of $313.84. The company’s fifty day moving average price is $293.17 and its 200 day moving average price is $273.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) 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 16.70%. The firm had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the company posted $4.94 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts predict that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

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.