FedEx (NYSE:FDX) Price Target Raised to $300.00

FedEx (NYSE:FDX) had its price target increased by BNP Paribas Exane from $269.80 to $300.00 in a report released on Wednesday. They currently have a neutral rating on the shipping service provider’s stock.

Several other analysts have also weighed in on FDX. Bank of America reiterated a “buy” rating and issued a $140.00 price objective on shares of FedEx in a research note on Tuesday. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a research note on Wednesday, June 24th. UBS Group reduced their price target on shares of FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. BMO Capital Markets reaffirmed a “market perform” rating on shares of FedEx in a research note on Wednesday, June 24th. Finally, Raymond James Financial set a $330.00 price objective on shares of FedEx in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.72.

FedEx Trading Up 1.2%

NYSE FDX opened at $290.49 on Wednesday. The business has a 50 day simple moving average of $313.51 and a 200 day simple moving average of $338.52. FedEx has a one year low of $179.69 and a one year high of $345.36. The stock has a market capitalization of $68.75 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.53 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion during the quarter. Research analysts expect that FedEx will post 17.53 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, September 14th. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Institutional Trading of FedEx

Hedge funds have recently bought and sold shares of the business. Polaris Financial Partners bought a new position in shares of FedEx in the third quarter worth $96,000. CX Institutional raised its stake in shares of FedEx by 839.8% during the 3rd quarter. CX Institutional now owns 37,056 shares of the shipping service provider’s stock valued at $10,564,000 after purchasing an additional 33,113 shares during the period. QRG Capital Management Inc. raised its stake in shares of FedEx by 16.5% during the 2nd quarter. QRG Capital Management Inc. now owns 31,373 shares of the shipping service provider’s stock valued at $9,824,000 after purchasing an additional 4,439 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in FedEx by 5.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,163 shares of the shipping service provider’s stock worth $3,182,000 after purchasing an additional 558 shares in the last quarter. Finally, Andra AP fonden lifted its holdings in FedEx by 55.5% during the 2nd quarter. Andra AP fonden now owns 69,318 shares of the shipping service provider’s stock worth $21,706,000 after purchasing an additional 24,740 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Company Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.