FedEx (NYSE:FDX) Price Target Raised to $372.00

FedEx (NYSE:FDX) had its price objective upped by JPMorgan Chase & Co. from $370.00 to $372.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the shipping service provider’s stock.

Several other equities analysts have also recently commented on the company. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group reduced their target price on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Friday, September 20th. Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and lifted their target price for the company from $288.00 to $365.00 in a research report on Friday, December 20th. Finally, UBS Group increased their price target on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $325.61.

FedEx Stock Performance

FDX opened at $274.62 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average price is $283.86 and its two-hundred day moving average price is $284.40. The firm has a market capitalization of $66.14 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. FedEx has a 12-month low of $234.45 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.99 EPS. On average, equities analysts forecast that FedEx will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Activity

In other news, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy B. Lane bought 333 shares of the stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. First Hawaiian Bank grew its position in shares of FedEx by 5.5% during the 4th quarter. First Hawaiian Bank now owns 15,143 shares of the shipping service provider’s stock valued at $4,260,000 after acquiring an additional 786 shares during the period. Birch Capital Management LLC lifted its holdings in FedEx by 161.3% during the 4th quarter. Birch Capital Management LLC now owns 15,549 shares of the shipping service provider’s stock worth $4,374,000 after purchasing an additional 9,599 shares in the last quarter. Oliver Luxxe Assets LLC boosted its position in shares of FedEx by 2.2% in the fourth quarter. Oliver Luxxe Assets LLC now owns 17,617 shares of the shipping service provider’s stock valued at $4,956,000 after acquiring an additional 378 shares during the period. CWA Asset Management Group LLC grew its position in shares of FedEx by 52.2% during the 4th quarter. CWA Asset Management Group LLC now owns 6,563 shares of the shipping service provider’s stock valued at $1,846,000 after purchasing an additional 2,251 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its position in FedEx by 2.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,125 shares of the shipping service provider’s stock worth $1,160,000 after buying an additional 100 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

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.