FedEx (NYSE:FDX) Price Target Raised to $320.00 at Raymond James

FedEx (NYSE:FDX) had its target price hoisted by Raymond James from $305.00 to $320.00 in a report issued on Friday morning,Benzinga reports. Raymond James currently has an outperform rating on the shipping service provider’s stock.

FDX has been the topic of several other reports. Stifel Nicolaus boosted their price target on FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a research note on Friday. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Bernstein Bank upped their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, The Goldman Sachs Group reduced their target price on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Trading Down 0.1 %

FDX opened at $275.73 on Friday. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a fifty day moving average of $282.71 and a 200-day moving average of $281.85. The stock has a market cap of $67.37 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $3.99 EPS. On average, sell-side analysts predict that FedEx will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is presently 34.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in shares of FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after purchasing an additional 647,926 shares during the period. Ameriprise Financial Inc. raised its position in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares during the period. Franklin Resources Inc. boosted its stake in FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after acquiring an additional 314,380 shares during the last quarter. World Investment Advisors LLC increased its stake in shares of FedEx by 2,163.7% during the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after purchasing an additional 183,940 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after purchasing an additional 161,022 shares during the period. 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.