FedEx Corporation (NYSE:FDX) Receives $350.54 Average Target Price from Brokerages

Shares of FedEx Corporation (NYSE:FDX) have received a consensus rating of “Moderate Buy” from the thirty ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $355.1722.

A number of analysts have commented on the company. Truist Financial reduced their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Citigroup assumed coverage on FedEx in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. The Goldman Sachs Group reduced their target price on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $460.00 to $400.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Citizens Jmp started coverage on shares of FedEx in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price target on the stock.

FedEx Stock Performance

NYSE:FDX opened at $309.82 on Monday. The firm’s 50-day moving average is $319.23 and its 200-day moving average is $347.55. The company has a market cap of $73.33 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.67 and a beta of 1.32. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. FedEx has a 52-week low of $177.86 and a 52-week high of $345.36.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion during the quarter. Equities research analysts anticipate that FedEx will post 17.6 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, September 14th. FedEx’s payout ratio is 26.36%.

Insiders Place Their Bets

In related news, Director Paul Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new position in shares of FedEx during the 1st quarter worth approximately $25,000. Bayban acquired a new stake in FedEx in the 1st quarter valued at $26,000. Solstein Capital LLC bought a new stake in FedEx in the second quarter valued at $27,000. Cedar Mountain Advisors LLC grew its position in FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 41 shares during the period. Finally, EFG International AG acquired a new position in FedEx during the fourth quarter worth $27,000. Institutional investors own 84.47% of the company’s stock.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Evercore ISI raised its FedEx price target to $350 from $323 while maintaining an “In Line” rating, indicating improved valuation support even though the firm remains cautious. Evercore ISI Adjusts Price Target on FedEx
• Positive Sentiment: J.P. Morgan reiterated a positive view on FDX, retaining an “overweight” or “buy” rating and setting a $400 price target. The bullish stance suggests the bank sees meaningful upside from FedEx’s transformation and operational improvements. J.P. Morgan Remains a Buy on FedEx
• Neutral Sentiment: FedEx launched Global Trade Navigator, a suite of tools designed to help businesses manage customs requirements, duties, taxes and shipping-data errors. Features include a free Trade Planner, Shopify tools that display import costs before checkout, and APIs for customs information. The initiative could improve international shipping demand and customer retention, but its financial impact is not yet quantified. FedEx Introduces Global Trade Navigator
• Negative Sentiment: J.P. Morgan recently reduced its FedEx price target from $460 to $400, despite keeping an overweight rating. The cut signals more conservative expectations for earnings or valuation and may be contributing to selling pressure. FedEx Receives a Buy Rating from JP Morgan

About FedEx

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company. Through its operating companies, FedEx provides package delivery, freight transportation, logistics, supply chain management and related services for businesses, governments and consumers.

The company’s offerings include time-definite express shipping, ground delivery, less-than-truckload freight transportation, customs and international trade support, warehousing, fulfillment and other logistics solutions.