FedEx Corporation (NYSE:FDX) Receives $350.54 Average Target Price from Analysts

Shares of FedEx Corporation (NYSE:FDX) have been given a consensus rating of “Moderate Buy” by the thirty analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $350.5426.

FDX has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. BNP Paribas Exane dropped their price target on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Wall Street Zen upgraded shares of FedEx to a “hold” rating in a report on Saturday, August 8th. Citizens Jmp started coverage on shares of FedEx in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price objective for the company. Finally, Sanford C. Bernstein set a $397.00 target price on FedEx in a research note on Wednesday, June 24th.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Automation strategy supports efficiency: FedEx is sharpening its focus on automation to improve productivity and reduce costs, which could support margins over time. FedEx Automation Strategy Sharpens Focus on Efficiency
• Positive Sentiment: Industry shipping constraints may improve pricing: Capacity limitations, delays and higher prices reported by major ocean carriers could benefit parcel and freight operators such as FedEx if customers shift transportation modes or accept higher shipping rates. Walmart, Tesla, FedEx, and More Winners and Losers From Shipping’s Rough Seas
• Neutral Sentiment: Call-option activity signals bullish speculation: Investors purchased a high volume of FedEx call options, indicating increased expectations for a rebound, although options activity does not guarantee fundamental improvement. Investors Purchase High Volume of Call Options on FedEx
• Neutral Sentiment: FedEx Freight’s upbeat debut is separate from FDX: Newly independent FedEx Freight Holding Company (NASDAQ: FDXF) attracted favorable analyst coverage, with reported targets above its trading level and fiscal fourth-quarter revenue of $2.4 billion. The development may highlight value unlocked by FedEx’s freight separation, but FDXF now trades as a separate company.
• Negative Sentiment: Tariff refunds will not provide a lasting earnings boost: FedEx reportedly plans to return approximately $800 million in tariff refunds to customers after courts invalidated the tariffs. Passing the funds through limits the benefit to FedEx’s profits and could create administrative costs or temporary cash-flow pressure. Nike, FedEx Reap Billions From Tariff Refunds
• Negative Sentiment: Southern California closures and layoffs underscore cost pressure: FedEx is among employers announcing more than 500 job cuts in the region, including facility closures in Palm Springs and Victorville. While potentially supportive of restructuring savings, the actions point to softer demand and ongoing network rationalization. FedEx and Others Announce Layoffs in Southern California

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently made changes to their positions in FDX. BlackRock Inc. acquired a new stake in FedEx in the second quarter valued at $6,508,103,000. Primecap Management Co. CA acquired a new position in FedEx during the 2nd quarter worth $2,554,138,000. Norges Bank acquired a new position in FedEx during the 4th quarter worth $859,085,000. Boston Partners bought a new stake in shares of FedEx in the 3rd quarter worth about $468,195,000. Finally, AQR Capital Management LLC increased its position in shares of FedEx by 169.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after purchasing an additional 1,718,278 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX stock opened at $334.56 on Thursday. The firm has a market cap of $79.15 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. FedEx has a 1 year low of $177.05 and a 1 year high of $345.36. The stock has a 50-day simple moving average of $319.39 and a 200-day simple moving average of $351.07.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, equities analysts predict that FedEx will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s dividend payout ratio is currently 26.36%.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.