FedEx Co. (NYSE:FDX) Receives $301.33 Consensus Target Price from Brokerages

FedEx Co. (NYSE:FDX) has been given an average recommendation of “Moderate Buy” by the twenty-five analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $301.33.

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. UBS Group raised their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Robert W. Baird raised their price target on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Bank of America dropped their price target on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd.

FedEx Stock Up 1.4 %

Shares of NYSE FDX opened at $266.99 on Monday. FedEx has a one year low of $213.80 and a one year high of $291.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm’s 50 day simple moving average is $259.22 and its two-hundred day simple moving average is $254.19. The stock has a market capitalization of $65.70 billion, a P/E ratio of 15.40, a PEG ratio of 1.24 and a beta of 1.21.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the business earned $3.41 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. As a group, analysts expect that FedEx will post 17.67 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is presently 29.07%.

FedEx declared that its board has initiated a stock repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock valued at $37,758,773 in the last quarter. 8.73% of the stock is owned by insiders.

Institutional Investors Weigh In On FedEx

Several large investors have recently bought and sold shares of the business. M&R Capital Management Inc. increased its holdings in FedEx by 0.3% in the 3rd quarter. M&R Capital Management Inc. now owns 16,192 shares of the shipping service provider’s stock worth $4,289,000 after buying an additional 41 shares in the last quarter. KRS Capital Management LLC increased its holdings in FedEx by 4.1% in the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after buying an additional 41 shares in the last quarter. Zullo Investment Group Inc. increased its holdings in FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after buying an additional 42 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after buying an additional 44 shares in the last quarter. Finally, SVB Wealth LLC increased its holdings in FedEx by 2.5% in the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after buying an additional 44 shares in the last quarter. 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.