FedEx Co. (NYSE:FDX) Receives $301.33 Consensus Target Price from Brokerages

FedEx Co. (NYSE:FDX) has earned an average rating of “Moderate Buy” from the twenty-five brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $301.33.

A number of brokerages have recently issued reports on FDX. Evercore ISI raised their price objective on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Barclays raised their price target on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Stifel Nicolaus reduced their price objective on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Finally, UBS Group boosted their target price on shares of FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd.

Insider Buying and Selling at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,668 shares of company stock worth $37,758,773. Insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fortis Group Advisors LLC increased its position in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in FedEx during the fourth quarter worth about $25,000. Financial Management Professionals Inc. raised its position in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC purchased a new position in FedEx in the fourth quarter valued at about $28,000. Finally, Rakuten Securities Inc. bought a new position in shares of FedEx during the 4th quarter valued at approximately $30,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Down 0.7 %

Shares of NYSE FDX opened at $263.07 on Monday. FedEx has a 1 year low of $213.80 and a 1 year high of $291.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm has a market cap of $64.74 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company has a 50 day simple moving average of $258.30 and a 200 day simple moving average of $254.11.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. FedEx’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.41 earnings per share. On average, research analysts forecast that FedEx will post 17.67 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.92%. FedEx’s dividend payout ratio is presently 29.07%.

FedEx declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.