FedEx (NYSE:FDX) Price Target Raised to $348.00 at Bank of America

FedEx (NYSE:FDX) had its price objective hoisted by Bank of America from $325.00 to $348.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a buy rating on the shipping service provider’s stock.

A number of other research firms have also recently commented on FDX. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Stephens reiterated an “overweight” rating and set a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. Stifel Nicolaus increased their price target on FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a research note on Friday. Bernstein Bank lifted their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Raymond James dropped their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.88.

FedEx Stock Down 0.1 %

FDX stock opened at $275.73 on Friday. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The company 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. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $282.71 and a two-hundred day moving average price of $282.10.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $3.99 earnings per share. Analysts anticipate that FedEx will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

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

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently modified their holdings of FDX. Evermay Wealth Management LLC raised its stake in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx during the 3rd quarter valued at approximately $31,000. Abound Wealth Management increased its position in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Sachetta LLC lifted its stake in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of FedEx during the third quarter worth $47,000. 84.47% of the stock is currently owned by institutional investors.

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.