FedEx (NYSE:FDX) Price Target Increased to $335.00 by Analysts at Argus

FedEx (NYSE:FDX) had its price target hoisted by Argus from $325.00 to $335.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

A number of other equities research analysts also recently issued reports on FDX. Morgan Stanley increased their price objective on FedEx from $210.00 to $215.00 and gave the stock an equal weight rating in a research report on Wednesday, June 26th. Stephens restated an overweight rating and set a $325.00 price target on shares of FedEx in a research report on Wednesday, June 26th. Raymond James reduced their price objective on FedEx from $325.00 to $300.00 and set an outperform rating on the stock in a research note on Monday, June 24th. TD Cowen raised their target price on FedEx from $320.00 to $335.00 and gave the stock a buy rating in a research note on Wednesday, June 26th. Finally, 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, June 26th. One investment 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. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $314.00.

FedEx Price Performance

Shares of NYSE FDX opened at $299.84 on Thursday. The stock has a fifty day simple moving average of $258.10 and a two-hundred day simple moving average of $256.24. FedEx has a 1-year low of $224.69 and a 1-year high of $302.41. The firm has a market cap of $73.78 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.10 and a beta of 1.16. The company has a current ratio of 1.36, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $22.04 billion. During the same period last year, the company earned $4.94 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts anticipate that FedEx will post 20.67 earnings per share for the current year.

FedEx announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

FedEx Increases Dividend

The company 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 is a positive change 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%. The ex-dividend date is Monday, June 24th. FedEx’s payout ratio is presently 32.04%.

Insider Activity

In related news, CEO Richard W. Smith sold 1,325 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total value of $368,668.00. Following the completion of the transaction, the chief executive officer now owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction dated 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 directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 disclosure for this sale can be found here. Insiders sold a total of 119,810 shares of company stock valued at $32,924,413 in the last 90 days. Company insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC raised its position in FedEx by 4.1% in the 1st quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock worth $285,000 after purchasing an additional 39 shares during the period. KRS Capital Management LLC raised its position in FedEx by 4.1% in the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after purchasing an additional 41 shares during the period. Zullo Investment Group Inc. grew its stake in FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after acquiring an additional 42 shares in the last quarter. Regent Peak Wealth Advisors LLC grew its stake in FedEx by 3.5% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock worth $369,000 after acquiring an additional 43 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its stake in FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after acquiring an additional 44 shares in the last quarter. 84.47% of the stock is 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.