FedEx Corporation (NYSE:FDX) Stock Has Consensus Price Target of $353.84 According to Brokerages

Shares of FedEx Corporation (NYSE:FDX) have been given a consensus rating of “Moderate Buy” by the twenty-nine ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $365.88.

FDX has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of FedEx from $373.00 to $374.00 and gave the stock a “buy” rating in a research report on Monday. BNP Paribas Exane raised their price target on shares of FedEx from $269.80 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, September 30th. Stephens raised shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. HSBC upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $370.00 price objective for the company in a research note on Thursday. Finally, Evercore increased their price objective on shares of FedEx from $350.00 to $351.00 in a research report on Monday, September 28th.

FedEx Price Performance

FDX stock opened at $318.67 on Tuesday. The stock has a 50-day moving average price of $304.17 and a two-hundred day moving average price of $337.19. FedEx has a 12-month low of $199.86 and a 12-month high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The company has a market cap of $74.63 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.23 and a beta of 1.28.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 EPS for the quarter, topping the consensus estimate of $3.34 by $0.40. The company had revenue of $22.93 billion during the quarter, compared to analyst estimates of $22.73 billion. FedEx had a return on equity of 16.15% and a net margin of 4.09%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.83 earnings per share. As a group, research analysts predict that FedEx will post 18.28 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were issued a dividend of $1.22 per share. The ex-dividend date was Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s payout ratio is presently 30.01%.

Insiders Place Their Bets

In related news, EVP Tracy Brightman sold 26,611 shares of the company’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the completion of the sale, the executive vice president directly owned 12,245 shares of the company’s stock, valued at approximately $3,877,746.60. This represents a 68.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp lifted its position in shares of FedEx by 104.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock worth $6,169,000 after purchasing an additional 8,868 shares in the last quarter. First Nebraska Trust Co purchased a new position in FedEx during the first quarter valued at approximately $10,675,000. NewEdge Advisors LLC grew its position in FedEx by 74.1% during the second quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider’s stock valued at $10,757,000 after purchasing an additional 14,624 shares in the last quarter. Archer Investment Corp purchased a new position in FedEx during the second quarter valued at approximately $1,147,000. Finally, Tidal Investments LLC increased its stake in FedEx by 9.8% in the 2nd quarter. Tidal Investments LLC now owns 48,662 shares of the shipping service provider’s stock valued at $15,238,000 after buying an additional 4,340 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.