FedEx (NYSE:FDX) Price Target Raised to $287.00

FedEx (NYSE:FDXGet Rating) had its price objective upped by Bank of America from $276.00 to $287.00 in a research report sent to investors on Thursday, The Fly reports.

Several other analysts have also weighed in on the stock. Sanford C. Bernstein set a $333.00 price objective on shares of FedEx in a report on Friday, March 11th. Berenberg Bank set a $330.00 price objective on shares of FedEx in a report on Friday, May 27th. Barclays set a $320.00 price objective on shares of FedEx in a report on Friday, June 24th. The Goldman Sachs Group dropped their price objective on shares of FedEx from $331.00 to $291.00 and set a buy rating for the company in a report on Tuesday, June 7th. Finally, Morgan Stanley lowered their price target on shares of FedEx from $250.00 to $245.00 and set an equal weight rating for the company in a report on Thursday, June 2nd. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $298.10.

NYSE FDX opened at $223.61 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43. The firm has a 50-day simple moving average of $215.81 and a 200 day simple moving average of $226.62. FedEx has a twelve month low of $192.82 and a twelve month high of $302.65. The stock has a market cap of $57.96 billion, a PE ratio of 15.64, a PEG ratio of 0.80 and a beta of 1.23.

FedEx (NYSE:FDXGet Rating) last posted its quarterly earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.80 by $0.07. FedEx had a net margin of 4.09% and a return on equity of 22.29%. During the same period last year, the firm earned $5.01 earnings per share. Research analysts forecast that FedEx will post 23.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Monday, June 27th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from FedEx’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 32.17%.

In other FedEx news, Director Paul S. Walsh sold 3,720 shares of FedEx stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $206.42, for a total value of $767,882.40. Following the sale, the director now directly owns 14,000 shares in the company, valued at approximately $2,889,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy B. Lane purchased 607 shares of the stock in a transaction on Thursday, June 30th. The stock was acquired at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the completion of the purchase, the director now directly owns 686 shares in the company, valued at approximately $156,490.32. The disclosure for this purchase can be found here. Company insiders own 8.16% of the company’s stock.

A number of hedge funds have recently modified their holdings of FDX. Dodge & Cox increased its stake in FedEx by 22.2% in the 4th quarter. Dodge & Cox now owns 16,674,920 shares of the shipping service provider’s stock valued at $4,312,801,000 after buying an additional 3,031,046 shares during the last quarter. Norges Bank acquired a new position in shares of FedEx during the 4th quarter worth about $593,029,000. Assenagon Asset Management S.A. increased its stake in shares of FedEx by 11,807.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 548,918 shares of the shipping service provider’s stock worth $127,014,000 after purchasing an additional 544,308 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of FedEx by 24,340.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 490,284 shares of the shipping service provider’s stock worth $113,447,000 after purchasing an additional 488,278 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of FedEx by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 18,784,798 shares of the shipping service provider’s stock worth $4,346,614,000 after purchasing an additional 394,289 shares during the last quarter. Hedge funds and other institutional investors own 79.92% of the company’s stock.

FedEx Company Profile (Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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