FedEx’s (FDX) “Outperform” Rating Reiterated at Raymond James Financial

Raymond James Financial reaffirmed their outperform rating on shares of FedEx (NYSE:FDX) in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm currently has a $260.00 target price on the shipping service provider’s stock, down from their previous target price of $275.00.

FDX has been the topic of several other research reports. Sanford C. Bernstein cut their price target on FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a research note on Friday, June 13th. JPMorgan Chase & Co. upped their price target on FedEx from $260.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup cut their price target on FedEx from $267.00 to $259.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group lowered their price objective on FedEx from $311.00 to $297.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets lowered their price objective on FedEx from $275.00 to $260.00 and set a “market perform” rating on the stock in a research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.00.

FedEx Stock Up 3.8%

FDX stock opened at $229.37 on Wednesday. FedEx has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The business’s 50 day moving average price is $220.19 and its two-hundred day moving average price is $242.96. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market capitalization of $54.96 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.35.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the prior year, the business earned $5.41 EPS. As a group, analysts forecast that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. The ex-dividend date is Monday, June 23rd. This is a positive change from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.53%. FedEx’s dividend payout ratio (DPR) is 36.39%.

Hedge Funds Weigh In On FedEx

Institutional investors have recently modified their holdings of the stock. NBC Securities Inc. purchased a new position in shares of FedEx during the first quarter worth approximately $147,000. Farther Finance Advisors LLC increased its holdings in FedEx by 27.6% during the first quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider’s stock valued at $538,000 after buying an additional 481 shares during the period. Allianz SE purchased a new position in FedEx during the fourth quarter valued at approximately $18,342,000. Parvin Asset Management LLC purchased a new position in FedEx during the fourth quarter valued at approximately $281,000. Finally, Landscape Capital Management L.L.C. increased its holdings in FedEx by 87.2% during the fourth quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider’s stock valued at $3,734,000 after buying an additional 6,180 shares during the period. 84.47% of the stock is owned by hedge funds and other 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.