FedEx (NYSE:FDX) Price Target Increased to $276.00 by Analysts at Evercore ISI

FedEx (NYSE:FDX) had its price objective raised by Evercore ISI from $275.00 to $276.00 in a report issued on Monday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the shipping service provider’s stock.

Other equities analysts have also issued reports about the company. Robert W. Baird reissued an outperform rating and set a $300.00 price objective on shares of FedEx in a report on Thursday, September 14th. Morgan Stanley raised their price target on FedEx from $186.00 to $200.00 and gave the stock an equal weight rating in a report on Friday, September 8th. Sanford C. Bernstein lifted their price objective on FedEx from $261.00 to $284.00 in a research note on Wednesday, June 21st. Atlantic Securities started coverage on FedEx in a research report on Tuesday, June 6th. They set an overweight rating and a $265.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on FedEx from $240.00 to $270.00 and gave the company an equal weight rating in a research report on Tuesday, September 12th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, FedEx presently has an average rating of Moderate Buy and a consensus target price of $254.30.

FedEx Stock Performance

Shares of FedEx stock opened at $249.33 on Monday. The company has a market cap of $62.71 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.23 and a beta of 1.36. FedEx has a 52 week low of $141.92 and a 52 week high of $270.95. The business has a 50 day moving average price of $261.00 and a 200-day moving average price of $238.32. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.78.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 EPS for the quarter, beating analysts’ consensus estimates of $4.85 by $0.09. The company had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.55 billion. FedEx had a return on equity of 15.32% and a net margin of 4.41%. FedEx’s revenue was down 10.1% on a year-over-year basis. During the same period last year, the business posted $6.87 earnings per share. Equities analysts anticipate that FedEx will post 17.37 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, September 8th. FedEx’s dividend payout ratio (DPR) is presently 32.52%.

Insider Activity

In other FedEx news, EVP Michael C. Lenz sold 5,745 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $261.88, for a total value of $1,504,500.60. Following the sale, the executive vice president now directly owns 22,478 shares of the company’s stock, valued at $5,886,538.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other FedEx news, EVP Michael C. Lenz sold 5,745 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $261.88, for a total value of $1,504,500.60. Following the sale, the executive vice president now directly owns 22,478 shares of the company’s stock, valued at $5,886,538.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 19,270 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $246.00, for a total transaction of $4,740,420.00. Following the completion of the sale, the executive vice president now directly owns 58,875 shares in the company, valued at $14,483,250. The disclosure for this sale can be found here. Insiders have sold 35,816 shares of company stock valued at $8,822,147 over the last ninety days. 8.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FDX. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of FedEx by 97,178.0% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 209,510,584 shares of the shipping service provider’s stock worth $51,937,674,000 after acquiring an additional 209,295,211 shares during the period. Norges Bank acquired a new position in shares of FedEx in the fourth quarter worth about $388,787,000. Mizuho Markets Americas LLC acquired a new position in shares of FedEx in the first quarter worth about $314,712,000. Mizuho Markets Cayman LP raised its position in shares of FedEx by 64,686.3% in the first quarter. Mizuho Markets Cayman LP now owns 1,377,356 shares of the shipping service provider’s stock worth $314,712,000 after acquiring an additional 1,375,230 shares during the period. Finally, Capital International Investors raised its position in shares of FedEx by 86.1% in the second quarter. Capital International Investors now owns 1,728,775 shares of the shipping service provider’s stock worth $428,563,000 after acquiring an additional 799,828 shares during the period. Institutional investors and hedge funds own 73.61% of the company’s stock.

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.