Brokerages Set FedEx Co. (NYSE:FDX) Price Target at $316.04

FedEx Co. (NYSE:FDX) has earned a consensus rating of “Moderate Buy” from the twenty-seven brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $316.04.

A number of brokerages have issued reports on FDX. Loop Capital decreased their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Stifel Nicolaus dropped their price target on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Citigroup increased their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Evermay Wealth Management LLC boosted its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in FedEx in the third quarter valued at approximately $31,000. Central Valley Advisors LLC bought a new position in shares of FedEx in the second quarter valued at $39,000. Abound Wealth Management increased its stake in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Sachetta LLC raised its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of NYSE:FDX opened at $303.39 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx has a one year low of $234.45 and a one year high of $313.84. The company has a market capitalization of $74.13 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. The stock has a fifty day moving average of $276.86 and a 200-day moving average of $278.60.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (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 firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the firm earned $4.55 earnings per share. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

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.