FedEx Corp. (FDX) Price Target Raised to $186.00
FedEx Corp. (NYSE:FDX) had its price objective boosted by stock analysts at Stifel Nicolaus from $179.00 to $186.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ target price indicates a potential upside of 14.36% from the stock’s previous close.
Several other analysts also recently issued reports on FDX. Cowen and Company reaffirmed a “buy” rating and issued a $180.00 price target on shares of FedEx Corp. in a report on Saturday, June 18th. Morgan Stanley reaffirmed a “hold” rating on shares of FedEx Corp. in a report on Monday, June 6th. Vetr raised shares of FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price target on the stock in a report on Tuesday, August 2nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $200.00 price target on shares of FedEx Corp. in a report on Wednesday, June 22nd. Finally, Deutsche Bank AG upped their price target on shares of FedEx Corp. from $190.00 to $198.00 and gave the company a “buy” rating in a report on Thursday, June 23rd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. FedEx Corp. has an average rating of “Buy” and an average target price of $174.97.
FedEx Corp. (NYSE:FDX) opened at 162.65 on Wednesday. The stock has a market cap of $43.19 billion, a PE ratio of 24.98 and a beta of 1.35. The company’s 50 day moving average is $164.16 and its 200-day moving average is $161.10. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $169.57.
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FedEx Corp. (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.12. The firm had revenue of $14.70 billion for the quarter. FedEx Corp. had a net margin of 3.61% and a return on equity of 20.62%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 EPS. On average, equities analysts anticipate that FedEx Corp. will post $11.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.98%. FedEx Corp.’s dividend payout ratio (DPR) is 24.84%.
In other FedEx Corp. news, EVP Alan B. Graf, Jr. sold 7,400 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $159.43, for a total transaction of $1,179,782.00. Following the transaction, the executive vice president now directly owns 150,665 shares in the company, valued at approximately $24,020,520.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Carter sold 5,000 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $164.51, for a total transaction of $822,550.00. Following the transaction, the executive vice president now owns 53,399 shares in the company, valued at $8,784,669.49. The disclosure for this sale can be found here. Company insiders own 8.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Crow Point Partners bought a new position in FedEx Corp. during the third quarter worth approximately $265,000. Chelsea Counsel Company increased its position in FedEx Corp. by 6.3% in the third quarter. Chelsea Counsel Company now owns 2,252 shares of the shipping service provider’s stock worth $324,000 after buying an additional 134 shares during the period. F&V Capital Management increased its position in FedEx Corp. by 1.9% in the fourth quarter. F&V Capital Management now owns 37,190 shares of the shipping service provider’s stock worth $5,540,000 after buying an additional 685 shares during the period. Merriman Wealth Management increased its position in FedEx Corp. by 1.9% in the fourth quarter. Merriman Wealth Management now owns 4,121 shares of the shipping service provider’s stock worth $591,000 after buying an additional 75 shares during the period. Finally, Fulton Bank increased its position in FedEx Corp. by 19.6% in the fourth quarter. Fulton Bank now owns 11,958 shares of the shipping service provider’s stock worth $1,782,000 after buying an additional 1,956 shares during the period. Hedge funds and other institutional investors own 73.78% of the company’s stock.
About FedEx Corp.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services under the FedEx brand. The Company offers its services through companies constituting four business segments: FedEx Express, FedEx Ground, FedEx Freight and FedEx Services. FedEx Express offers a range of domestic and international shipping services for delivery of packages and freight.
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