FedEx (NYSE:FDX) Price Target Raised to $300.00

FedEx (NYSE:FDX) had its price target lifted by Wells Fargo & Company from $275.00 to $300.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an equal weight rating on the shipping service provider’s stock.

Other analysts also recently issued reports about the stock. Robert W. Baird boosted their price target on shares of FedEx from $325.00 to $340.00 and gave the stock an outperform rating in a research note on Wednesday. TD Cowen boosted their price target on shares of FedEx from $320.00 to $335.00 and gave the stock a buy rating in a research note on Wednesday. Raymond James lowered their price objective on shares of FedEx from $325.00 to $300.00 and set an outperform rating for the company in a research note on Monday, June 24th. Barclays upped their price objective on shares of FedEx from $310.00 to $350.00 and gave the company an overweight rating in a research note on Friday, March 22nd. Finally, Oppenheimer reaffirmed a market perform rating on shares of FedEx in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, FedEx has an average rating of Moderate Buy and a consensus price target of $314.00.

FedEx Stock Performance

FedEx stock opened at $299.84 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $73.78 billion, a PE ratio of 17.40, a P/E/G ratio of 1.09 and a beta of 1.16. The firm has a fifty day simple moving average of $258.10 and a two-hundred day simple moving average of $256.36. FedEx has a twelve month low of $224.69 and a twelve month high of $302.41.

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

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders 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 a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is 32.04%.

FedEx announced that its Board of Directors has authorized a share buyback program 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 buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $278.24, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard W. Smith sold 1,325 shares of the 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 sale, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,810 shares of company stock worth $32,924,413. 8.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FedEx

Institutional investors have recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $25,000. Fortis Group Advisors LLC lifted its position in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Financial Management Professionals Inc. lifted its position in FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC bought a new position in FedEx during the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. bought a new position in FedEx during the fourth quarter valued at approximately $30,000. Hedge funds and other 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.