FedEx (NYSE:FDX) Price Target Raised to $331.00

FedEx (NYSE:FDX) had its price objective lifted by Citigroup from $301.00 to $331.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the shipping service provider’s stock.

Other analysts have also issued reports about the stock. BMO Capital Markets decreased their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. TD Cowen decreased their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Stephens reissued an “overweight” rating and set a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Bernstein Bank increased their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Loop Capital reduced their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Stock Performance

Shares of NYSE:FDX traded up $1.01 during mid-day trading on Tuesday, reaching $293.30. 425,609 shares of the company traded hands, compared to its average volume of 1,801,041. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company’s 50 day moving average price is $275.18 and its 200-day moving average price is $276.07. The firm has a market cap of $71.66 billion, a PE ratio of 18.16, a PEG ratio of 1.17 and a beta of 1.17. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.55 earnings per share. On average, equities analysts expect that FedEx will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.88%. FedEx’s dividend payout ratio is currently 34.05%.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently made changes to their positions in FDX. Janus Henderson Group PLC lifted its stake in FedEx by 1.9% in the third quarter. Janus Henderson Group PLC now owns 26,612 shares of the shipping service provider’s stock valued at $7,280,000 after buying an additional 500 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in FedEx by 0.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after purchasing an additional 11,100 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in FedEx by 175.4% during the third quarter. Hilltop Holdings Inc. now owns 2,286 shares of the shipping service provider’s stock worth $625,000 after purchasing an additional 1,456 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in FedEx by 989.0% in the third quarter. Benjamin Edwards Inc. now owns 23,349 shares of the shipping service provider’s stock valued at $6,391,000 after purchasing an additional 21,205 shares during the last quarter. Finally, Paloma Partners Management Co increased its position in shares of FedEx by 18.2% in the third quarter. Paloma Partners Management Co now owns 4,609 shares of the shipping service provider’s stock valued at $1,261,000 after buying an additional 709 shares in the last quarter. Hedge funds and other institutional investors 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.