Brokerages Set FedEx Co. (NYSE:FDX) Target Price at $314.00

Shares of FedEx Co. (NYSE:FDX) have earned a consensus rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $313.96.

A number of research firms recently commented on FDX. Wells Fargo & Company increased their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. UBS Group decreased their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Bank of America upped their target price on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Stephens reissued an “overweight” rating and issued a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. Finally, Stifel Nicolaus restated a “buy” rating and set a $327.00 price objective (up previously from $303.00) on shares of FedEx in a report on Wednesday, June 26th.

Insider Transactions at FedEx

In related news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 in the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fortis Group Advisors LLC raised its stake in FedEx by 100.0% in the 4th 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 last quarter. Scarborough Advisors LLC purchased a new position in shares of FedEx in the fourth quarter worth about $25,000. Private Wealth Management Group LLC acquired a new position in FedEx during the fourth quarter worth about $28,000. Tennessee Valley Asset Management Partners purchased a new stake in FedEx during the 4th quarter valued at about $31,000. Finally, Sachetta LLC acquired a new stake in FedEx in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.0 %

FedEx stock opened at $297.18 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market cap of $73.13 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.08 and a beta of 1.18. The business has a fifty day moving average of $288.65 and a two-hundred day moving average of $268.31. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $4.94 earnings per share. On average, analysts forecast that FedEx will post 20.94 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.86%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

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.