FedEx (NYSE:FDX) Price Target Raised to $333.00 at The Goldman Sachs Group

FedEx (NYSE:FDX) had its price objective raised by The Goldman Sachs Group from $316.00 to $333.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

Several other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. raised FedEx from a neutral rating to an overweight rating and raised their target price for the stock from $296.00 to $359.00 in a research note on Wednesday. Bank of America boosted their price objective on shares of FedEx from $340.00 to $347.00 and gave the company a buy rating in a report on Wednesday. UBS Group lowered their target price on shares of FedEx from $340.00 to $333.00 and set a buy rating for the company in a research note on Tuesday, May 21st. Robert W. Baird boosted their price target on shares of FedEx from $325.00 to $340.00 and gave the company an outperform rating in a research note on Wednesday. Finally, Jefferies Financial Group increased their price objective on shares of FedEx from $265.00 to $300.00 and gave the stock a hold rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx currently has a consensus rating of Moderate Buy and a consensus price target of $314.00.

FedEx Trading Up 1.5 %

Shares of FDX opened at $299.84 on Wednesday. The firm’s fifty day moving average is $258.10 and its two-hundred day moving average is $256.36. The stock has a market cap of $73.78 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.16. The company has a quick ratio of 1.26, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx has a 52-week low of $224.69 and a 52-week high of $302.41.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter last year, the business posted $4.94 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Research analysts forecast that FedEx will post 20.51 earnings per share for the current fiscal year.

FedEx declared that its board has approved a share repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the sale, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,810 shares of company stock valued at $32,924,413. Corporate insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

A number of large investors have recently bought and sold shares of the business. Operose Advisors LLC acquired a new stake in shares of FedEx during the third quarter worth $52,000. O Shaughnessy Asset Management LLC raised its position in FedEx by 70.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,130 shares of the shipping service provider’s stock worth $3,213,000 after buying an additional 5,003 shares during the last quarter. Mather Group LLC. lifted its stake in shares of FedEx by 92.3% in the 3rd quarter. Mather Group LLC. now owns 3,892 shares of the shipping service provider’s stock worth $1,031,000 after acquiring an additional 1,868 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of FedEx by 25.5% in the third quarter. Tower Research Capital LLC TRC now owns 15,640 shares of the shipping service provider’s stock valued at $4,143,000 after acquiring an additional 3,182 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank increased its stake in shares of FedEx by 106.1% during the third quarter. Cape Cod Five Cents Savings Bank now owns 2,358 shares of the shipping service provider’s stock worth $625,000 after acquiring an additional 1,214 shares during the period. Institutional investors and hedge funds 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.