Raymond James Raises FedEx (NYSE:FDX) Price Target to $320.00

FedEx (NYSE:FDX) had its price objective raised by Raymond James from $305.00 to $320.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the shipping service provider’s stock.

A number of other research analysts have also issued reports on FDX. The Goldman Sachs Group dropped their price target on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Bank of America increased their target price on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com downgraded FedEx from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, Stephens lowered their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.88.

FedEx Stock Performance

Shares of FDX stock opened at $275.73 on Friday. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The stock’s 50-day moving average price is $282.71 and its 200 day moving average price is $282.10. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $67.37 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Institutional Trading of FedEx

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in FedEx by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after acquiring an additional 67,502 shares during the last quarter. Franklin Resources Inc. increased its stake in FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Ameriprise Financial Inc. lifted its position in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the period. Dimensional Fund Advisors LP boosted its stake in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after buying an additional 121,240 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in FedEx by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after buying an additional 11,100 shares during the period. Institutional investors and hedge funds 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.