FedEx (NYSE:FDX) Price Target Increased to $300.00 by Analysts at Wells Fargo & Company

FedEx (NYSE:FDX) had its price objective upped by Wells Fargo & Company from $275.00 to $300.00 in a report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the shipping service provider’s stock.

FDX has been the topic of several other research reports. Barclays upped their price objective on FedEx from $310.00 to $350.00 and gave the company an overweight rating in a research note on Friday, March 22nd. Jefferies Financial Group upped their price objective on FedEx from $265.00 to $300.00 and gave the company a hold rating in a research note on Friday, March 22nd. Raymond James cut 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. Stephens restated an overweight rating and set a $325.00 price objective on shares of FedEx in a research report on Wednesday. Finally, Morgan Stanley upped their price objective on FedEx from $210.00 to $215.00 and gave the stock an equal weight rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $313.09.

FedEx Trading Up 15.5 %

NYSE:FDX opened at $296.19 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx has a one year low of $224.69 and a one year high of $296.86. The business’s 50-day simple moving average is $256.13 and its 200 day simple moving average is $255.72. The stock has a market cap of $72.89 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 0.93 and a beta of 1.16.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.86% and a net margin of 4.94%. The business had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the previous year, the firm posted $4.94 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts predict that FedEx will post 20.26 earnings per share for the current fiscal year.

FedEx announced that its board has approved a share repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. FedEx’s payout ratio is 32.04%.

Insiders Place Their Bets

In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,275 shares of company stock worth $32,177,298. 8.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently made changes to their positions in FDX. Operose Advisors LLC purchased a new position in shares of FedEx in the third quarter worth approximately $52,000. O Shaughnessy Asset Management LLC increased its position in shares of FedEx by 70.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 12,130 shares of the shipping service provider’s stock worth $3,213,000 after acquiring an additional 5,003 shares in the last quarter. Mather Group LLC. increased its position in shares of FedEx by 92.3% in the third quarter. Mather Group LLC. now owns 3,892 shares of the shipping service provider’s stock worth $1,031,000 after acquiring an additional 1,868 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of FedEx by 25.5% in the third quarter. Tower Research Capital LLC TRC now owns 15,640 shares of the shipping service provider’s stock worth $4,143,000 after acquiring an additional 3,182 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank increased its position in shares of FedEx by 106.1% in the third quarter. Cape Cod Five Cents Savings Bank now owns 2,358 shares of the shipping service provider’s stock worth $625,000 after acquiring an additional 1,214 shares in the last quarter. Institutional investors and hedge funds 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.