FedEx (NYSE:FDX) Given New $365.00 Price Target at Barclays

FedEx (NYSE:FDX) had its price objective lifted by Barclays from $350.00 to $365.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the shipping service provider’s stock.

Several other brokerages have also recently weighed in on FDX. The Goldman Sachs Group reduced their price target on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. UBS Group dropped their price target on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Stephens restated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Citigroup lifted their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bernstein Bank lifted their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Down 0.1 %

Shares of FDX stock opened at $291.60 on Wednesday. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a 50 day simple moving average of $275.04 and a two-hundred day simple moving average of $275.95. 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 stock has a market cap of $71.24 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.15 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the firm earned $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts expect that FedEx will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.89%. FedEx’s payout ratio is currently 34.05%.

Institutional Investors Weigh In On FedEx

Hedge funds have recently added to or reduced their stakes in the business. Evermay Wealth Management LLC raised its position in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the third quarter worth $31,000. Central Valley Advisors LLC acquired a new stake in FedEx during the second quarter valued at $39,000. Abound Wealth Management increased its holdings in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of FedEx in the third quarter worth about $47,000. 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.