FedEx Co. (NYSE:FDX) Receives $302.71 Consensus Price Target from Brokerages

FedEx Co. (NYSE:FDX) has earned a consensus rating of “Moderate Buy” from the thirty ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $302.71.

A number of research firms have recently issued reports on FDX. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Truist Financial assumed coverage on shares of FedEx in a research note on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Barclays dropped their price target on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. decreased their price objective on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the company’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 value of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,711 shares of company stock worth $3,312,693 in the last ninety days. Insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC raised its stake in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares during the last quarter. Transce3nd LLC acquired a new position in shares of FedEx in the 4th quarter valued at $26,000. Peoples Financial Services CORP. bought a new position in FedEx during the fourth quarter worth about $28,000. City Holding Co. bought a new position in FedEx during the 4th quarter worth approximately $28,000. Finally, Kentucky Trust Co acquired a new position in shares of FedEx in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $209.90 on Monday. The company has a market capitalization of $50.29 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a fifty day moving average of $252.45 and a 200-day moving average of $268.75. FedEx has a one year low of $203.43 and a one year high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.86 earnings per share. As a group, equities analysts anticipate that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.63%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

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.