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

Shares of FedEx Co. (NYSE:FDX) have earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $314.00.

FDX has been the topic of a number of recent research reports. Argus upped their target price on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Robert W. Baird boosted their target price on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Stephens reiterated an “overweight” rating and set a $325.00 price objective on shares of FedEx in a research note on Wednesday, June 26th. Stifel Nicolaus restated a “buy” rating and issued a $327.00 target price (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th.

FedEx Trading Down 0.4 %

FedEx stock opened at $298.74 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a market cap of $73.51 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The stock has a 50-day moving average of $258.10 and a two-hundred day moving average of $256.24. FedEx has a one year low of $224.69 and a one year high of $302.41.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the company posted $4.94 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, research analysts anticipate that FedEx will post 20.67 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.85%. FedEx’s payout ratio is presently 32.04%.

FedEx announced that its board has approved a stock buyback plan on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders sold a total of 135,820 shares of company stock valued at $37,639,038 over the last quarter. 8.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortis Group Advisors LLC boosted its stake in shares of 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 buying an additional 50 shares during the period. Scarborough Advisors LLC purchased a new position in FedEx in the fourth quarter worth approximately $25,000. Financial Management Professionals Inc. grew its holdings in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of FedEx in the 4th quarter valued at $30,000. 84.47% of the stock is currently 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.