Brokerages Set FedEx Co. (NYSE:FDX) Price Target at $319.74

Shares of FedEx Co. (NYSE:FDX) have been given a consensus recommendation of “Moderate Buy” by the twenty-eight brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $318.58.

Several brokerages recently issued reports on FDX. BMO Capital Markets increased their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Piper Sandler cut shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Stephens decreased their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

Several hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in FedEx by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 1,669 shares of the shipping service provider’s stock valued at $457,000 after purchasing an additional 298 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx during the 3rd quarter valued at approximately $47,000. Robeco Institutional Asset Management B.V. boosted its holdings in FedEx by 62.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 44,760 shares of the shipping service provider’s stock worth $12,250,000 after buying an additional 17,129 shares during the period. Intact Investment Management Inc. purchased a new position in FedEx in the 3rd quarter valued at approximately $74,000. Finally, Catalyst Capital Advisors LLC purchased a new position in FedEx in the 3rd quarter valued at approximately $51,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

FDX stock opened at $243.66 on Thursday. The firm has a market cap of $58.69 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $264.35 and a 200-day moving average price of $275.13. FedEx has a 1-year low of $239.50 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $3.99 earnings per share. As a group, equities research analysts expect that FedEx will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

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.