FedEx (NYSE:FDX) Price Target Raised to $368.00 at Stifel Nicolaus

FedEx (NYSE:FDX) had its price objective boosted by Stifel Nicolaus from $321.00 to $368.00 in a report issued on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the shipping service provider’s stock.

FDX has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company increased their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday. BMO Capital Markets cut their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. UBS Group increased their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday. Finally, Loop Capital upgraded FedEx from a “hold” rating to a “buy” rating and boosted their target price for the stock from $288.00 to $365.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Stock Performance

FDX opened at $275.73 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company’s fifty day moving average price is $282.71 and its two-hundred day moving average price is $281.85. The company has a market cap of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84.

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

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. FedEx’s payout ratio is 34.05%.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after buying an additional 67,502 shares in the last quarter. Franklin Resources Inc. grew its stake in FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after acquiring an additional 314,380 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares during the period. Dimensional Fund Advisors LP lifted its stake in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after purchasing an additional 121,240 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after purchasing an additional 11,100 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.