FedEx (NYSE:FDX) Price Target Raised to $365.00 at Barclays

FedEx (NYSE:FDX) had its target price raised by Barclays from $350.00 to $365.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the shipping service provider’s stock.

A number of other research analysts have also recently commented on FDX. Robert W. Baird reduced their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. TD Cowen decreased their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research note on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Stock Up 0.7 %

Shares of NYSE FDX opened at $294.46 on Wednesday. The business has a 50-day moving average of $275.40 and a 200-day moving average of $276.27. The firm has a market capitalization of $71.94 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.17 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the business posted $4.55 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts expect that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. FedEx’s payout ratio is currently 34.05%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Evermay Wealth Management LLC lifted its stake in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC purchased a new stake in FedEx during the third quarter valued at $31,000. Central Valley Advisors LLC bought a new position in FedEx in the second quarter valued at about $39,000. Abound Wealth Management boosted its position in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

About FedEx

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.