The Goldman Sachs Group Raises FedEx (NYSE:FDX) Price Target to $333.00

FedEx (NYSE:FDX) had its price objective hoisted by The Goldman Sachs Group from $316.00 to $333.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the shipping service provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus decreased their target price on FedEx from $306.00 to $303.00 and set a buy rating for the company in a research note on Wednesday, April 3rd. Bank of America upped their target price on shares of FedEx from $340.00 to $347.00 and gave the company a buy rating in a report on Wednesday. Wells Fargo & Company raised shares of FedEx to a hold rating in a research report on Tuesday, June 18th. Jefferies Financial Group upped their price objective on shares of FedEx from $265.00 to $300.00 and gave the company a hold rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets lifted their target price on FedEx from $290.00 to $310.00 and gave the stock a market perform rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $314.00.

FedEx Trading Up 1.5 %

Shares of FDX stock opened at $299.84 on Wednesday. The company has a 50-day moving average of $258.10 and a two-hundred day moving average of $256.48. The firm has a market cap of $73.78 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. FedEx has a 1-year low of $224.69 and a 1-year high of $302.41. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.26.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.94 EPS. On average, analysts predict that FedEx will post 20.53 EPS for the current year.

FedEx announced that its board has initiated a stock buyback program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the sale, the chief executive officer now owns 84,614 shares of the company’s stock, valued at $23,542,999.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the transaction, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,810 shares of company stock valued at $32,924,413. Insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FDX. Fidelis Capital Partners LLC grew its position in FedEx by 4.1% in the first quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock valued at $285,000 after acquiring an additional 39 shares in the last quarter. KRS Capital Management LLC increased its stake in FedEx by 4.1% during the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after buying an additional 41 shares during the period. Zullo Investment Group Inc. boosted its position in FedEx by 0.7% in the 4th quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after buying an additional 42 shares during the last quarter. Regent Peak Wealth Advisors LLC grew its stake in shares of FedEx by 3.5% during the first quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock valued at $369,000 after acquiring an additional 43 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its position in shares of FedEx by 18.0% during the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

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.