Brokerages Set FedEx Co. (NYSE:FDX) Target Price at $314.74

FedEx Co. (NYSE:FDX) has been given a consensus rating of “Moderate Buy” by the twenty-seven brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $314.17.

Several research analysts have issued reports on the company. Robert W. Baird cut their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. BMO Capital Markets cut their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a report on Sunday, October 6th. Finally, The Goldman Sachs Group cut their price target on FedEx from $333.00 to $332.00 in a report on Friday, September 20th.

Insiders Place Their Bets

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently made changes to their positions in FDX. Creative Planning boosted its stake in FedEx by 15.7% during the third quarter. Creative Planning now owns 81,696 shares of the shipping service provider’s stock valued at $22,237,000 after buying an additional 11,081 shares during the period. CX Institutional lifted its stake in FedEx by 7.6% during the third quarter. CX Institutional now owns 2,552 shares of the shipping service provider’s stock worth $698,000 after purchasing an additional 180 shares during the last quarter. Grove Bank & Trust lifted its stake in FedEx by 13.6% during the third quarter. Grove Bank & Trust now owns 384 shares of the shipping service provider’s stock worth $105,000 after purchasing an additional 46 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in FedEx by 47.2% during the third quarter. Fiduciary Alliance LLC now owns 1,195 shares of the shipping service provider’s stock worth $327,000 after purchasing an additional 383 shares during the last quarter. Finally, Woodstock Corp lifted its stake in FedEx by 0.7% during the third quarter. Woodstock Corp now owns 25,452 shares of the shipping service provider’s stock worth $6,966,000 after purchasing an additional 185 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Up 0.0 %

Shares of FedEx stock opened at $264.36 on Monday. FedEx has a one year low of $224.69 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock’s 50-day moving average is $281.08 and its 200 day moving average is $275.58. The firm has a market cap of $64.59 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the company earned $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts anticipate that FedEx will post 19.6 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 34.05%.

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.