Credit Suisse Group Raises FedEx (NYSE:FDX) Price Target to $260.00
FedEx (NYSE:FDX) had its price objective increased by Credit Suisse Group from $171.00 to $260.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an outperform rating on the shipping service provider’s stock.
Several other equities analysts also recently issued reports on the stock. Berenberg Bank set a $280.00 price target on shares of FedEx and gave the company a buy rating in a research note on Thursday, September 3rd. BofA Securities raised their price target on shares of FedEx from $160.00 to $177.00 and gave the company a buy rating in a research note on Wednesday, July 1st. Citigroup increased their price objective on shares of FedEx from $235.00 to $260.00 and gave the stock a buy rating in a research report on Thursday, September 10th. Deutsche Bank increased their price objective on shares of FedEx from $128.00 to $150.00 and gave the stock a hold rating in a research report on Thursday, July 2nd. Finally, Morgan Stanley increased their price objective on shares of FedEx from $98.00 to $100.00 and gave the stock an equal weight rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $250.23.
FDX stock opened at $250.30 on Monday. The company has a fifty day moving average price of $206.06 and a 200-day moving average price of $149.32. The company has a market capitalization of $65.58 billion, a P/E ratio of 51.19, a PEG ratio of 1.84 and a beta of 1.48. FedEx has a 52-week low of $88.69 and a 52-week high of $256.18. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.53 and a current ratio of 1.58.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, September 3rd. FedEx’s payout ratio is 27.37%.
In other FedEx news, Director Susan C. Schwab sold 10,570 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $155.58, for a total value of $1,644,480.60. Following the transaction, the director now directly owns 16,600 shares of the company’s stock, valued at $2,582,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Carter sold 21,480 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $157.53, for a total transaction of $3,383,744.40. Following the completion of the transaction, the executive vice president now directly owns 74,366 shares in the company, valued at $11,714,875.98. The disclosure for this sale can be found here. Insiders sold 44,058 shares of company stock worth $7,149,678 over the last ninety days. Insiders own 8.49% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Selective Wealth Management Inc. bought a new position in shares of FedEx during the second quarter valued at about $28,000. Hoover Financial Advisors Inc. bought a new position in shares of FedEx during the second quarter valued at about $28,000. NewSquare Capital LLC lifted its position in shares of FedEx by 215.4% during the first quarter. NewSquare Capital LLC now owns 205 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of FedEx during the first quarter valued at about $27,000. Finally, Balentine LLC bought a new position in shares of FedEx during the first quarter valued at about $29,000. 71.65% of the stock is currently owned by hedge funds and other institutional investors.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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