Brokerages Set FedEx Corporation (NYSE:FDX) PT at $350.54

Shares of FedEx Corporation (NYSE:FDX) have been given a consensus recommendation of “Moderate Buy” by the thirty analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $350.5426.

Several research firms recently weighed in on FDX. Raymond James Financial cut their price target on shares of FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, June 24th. JPMorgan Chase & Co. restated a “buy” rating on shares of FedEx in a report on Friday, June 26th. Bank of America raised their target price on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Wall Street Zen raised shares of FedEx to a “hold” rating in a research note on Saturday, August 8th. Finally, Citizens Jmp began coverage on shares of FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price target on the stock.

FedEx Trading Down 0.8%

FDX opened at $331.86 on Thursday. The business has a 50 day simple moving average of $319.43 and a two-hundred day simple moving average of $351.54. The firm has a market capitalization of $78.51 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. FedEx has a one year low of $177.05 and a one year high of $345.36.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion during the quarter. Analysts predict that FedEx will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in FedEx in the second quarter worth $6,508,103,000. State Street Corp lifted its position in FedEx by 4.2% during the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after buying an additional 382,848 shares during the period. Primecap Management Co. CA purchased a new position in FedEx during the second quarter valued at $2,554,138,000. Franklin Resources Inc. boosted its holdings in shares of FedEx by 6.6% during the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after buying an additional 318,293 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of FedEx by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after buying an additional 45,818 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.