FedEx Co. (NYSE:FDX) Receives $324.88 Consensus Price Target from Brokerages

Shares of FedEx Co. (NYSE:FDX) have earned a consensus rating of “Moderate Buy” from the twenty-eight analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $324.88.

FDX has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of FedEx from $366.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James increased their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus boosted their target price on FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday. Finally, UBS Group lifted their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday.

Institutional Trading of FedEx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Evermay Wealth Management LLC lifted its holdings in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC purchased a new position in FedEx during the 3rd quarter worth approximately $31,000. Abound Wealth Management lifted its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx in the 3rd quarter valued at $47,000. Finally, Sachetta LLC increased its stake in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 2.4 %

FDX stock opened at $269.01 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market cap of $65.73 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 1.17 and a beta of 1.18. The business’s 50-day moving average is $282.71 and its two-hundred day moving average is $282.34. FedEx has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.99 earnings per share. As a group, analysts forecast that FedEx will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is currently 35.18%.

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.