UBS Group Issues Positive Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price target boosted by UBS Group from $311.00 to $350.00 in a report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

A number of other brokerages have also weighed in on FDX. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Barclays boosted their price target on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Stephens reissued an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Bernstein Bank lifted their target price on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, Loop Capital raised FedEx from a “hold” rating to a “buy” rating and increased their price target for the stock from $288.00 to $365.00 in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $324.88.

FedEx Trading Down 0.1 %

FDX opened at $275.73 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock’s 50 day moving average price is $282.71 and its 200-day moving average price is $282.10. FedEx has a one year low of $234.45 and a one year high of $313.84. The stock has a market cap of $67.37 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the company posted $3.99 EPS. FedEx’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that FedEx will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently modified their holdings of FDX. Evermay Wealth Management LLC boosted its stake in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of FedEx during the third quarter worth $31,000. Abound Wealth Management grew its holdings in shares of FedEx by 175.9% during 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 during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of FedEx in the 3rd quarter valued at $47,000. Finally, Sachetta LLC raised its stake in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds 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.