FedEx (NYSE:FDX) Price Target Raised to $337.00 at TD Cowen

FedEx (NYSE:FDX) had its target price boosted by TD Cowen from $328.00 to $337.00 in a report published on Friday, MarketBeat reports. The firm currently has a buy rating on the shipping service provider’s stock.

Other equities analysts have also issued reports about the stock. Raymond James lowered 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. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and lifted their target price for the company from $288.00 to $365.00 in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of FedEx from $350.00 to $366.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Robert W. Baird lowered their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, UBS Group cut their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $324.88.

FedEx Trading Down 0.1 %

Shares of FedEx stock opened at $275.73 on Friday. The company’s fifty day moving average is $282.71 and its two-hundred day moving average is $282.10. FedEx has a 1 year low of $234.45 and a 1 year high of $313.84. 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 company has a market capitalization of $67.37 billion, a P/E ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (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 firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the firm posted $3.99 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Analysts forecast that FedEx will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

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

Institutional Trading of FedEx

Institutional investors and hedge funds have recently made changes to their positions in the stock. LRI Investments LLC raised its stake in FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC grew its holdings in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after buying an additional 36 shares in the last quarter. Detalus Advisors LLC raised its position in shares of FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares during the last quarter. Sachetta LLC lifted its stake in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. Finally, IVC Wealth Advisors LLC boosted its position in FedEx by 2.0% during the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after acquiring an additional 38 shares during the last quarter. 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.