FedEx (NYSE:FDX) Price Target Raised to $215.00

FedEx (NYSE:FDX) had its target price lifted by Morgan Stanley from $210.00 to $215.00 in a research report sent to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the shipping service provider’s stock.

Other research analysts have also issued reports about the company. Robert W. Baird increased their price objective on FedEx from $315.00 to $325.00 and gave the stock an outperform rating in a research note on Friday, March 22nd. Wells Fargo & Company raised shares of FedEx to a hold rating in a report on Tuesday, June 18th. Evercore ISI reduced their price target on shares of FedEx from $351.00 to $318.00 and set an outperform rating on the stock in a research report on Monday, June 24th. JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $301.00 to $296.00 and set a neutral rating for the company in a report on Friday, May 24th. Finally, BMO Capital Markets boosted their target price on FedEx from $290.00 to $310.00 and gave the stock a market perform rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx has an average rating of Moderate Buy and a consensus price target of $314.00.

FedEx Trading Up 1.5 %

Shares of FDX stock opened at $299.84 on Wednesday. The firm has a fifty day moving average of $258.10 and a 200-day moving average of $256.48. The stock has a market cap of $73.78 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 1.06 and a beta of 1.16. FedEx has a 52-week low of $224.69 and a 52-week high of $302.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.36.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.94 earnings per share. On average, equities research analysts forecast that FedEx will post 20.53 earnings per share for the current fiscal year.

FedEx announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, June 24th. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is currently 32.04%.

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 1,325 shares of the firm’s 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 of the company’s stock, valued at $23,542,999.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard W. Smith sold 1,325 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Over the last 90 days, insiders 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

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