FedEx (FDX) Given a $306.00 Price Target at Stephens

Stephens set a $306.00 price objective on FedEx (NYSE:FDX) in a report issued on Wednesday morning. The firm currently has a buy rating on the shipping service provider’s stock.

Several other analysts have also recently commented on FDX. Zacks Investment Research cut shares of FedEx from a hold rating to a sell rating in a research note on Tuesday, August 22nd. Vetr cut shares of FedEx to a sell rating and set a $204.84 price target on the stock. in a research note on Thursday, August 31st. BMO Capital Markets reiterated a buy rating and issued a $245.00 price target on shares of FedEx in a research note on Wednesday, September 6th. Cowen reiterated a buy rating and issued a $240.00 price target on shares of FedEx in a research note on Tuesday, September 12th. Finally, Robert W. Baird reiterated a buy rating and issued a $235.00 price target on shares of FedEx in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $248.94.

Shares of FedEx (FDX) traded up $8.53 during mid-day trading on Wednesday, reaching $251.07. 5,898,100 shares of the company’s stock traded hands, compared to its average volume of 1,500,980. The stock has a market cap of $65,036.54, a PE ratio of 19.74, a P/E/G ratio of 1.53 and a beta of 1.36. FedEx has a 1-year low of $182.89 and a 1-year high of $253.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, topping the consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.91%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.80 EPS. research analysts forecast that FedEx will post 12.47 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 annualized dividend and a yield of 0.80%. FedEx’s payout ratio is 18.43%.

In related news, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total transaction of $897,689.00. Following the transaction, the director now directly owns 6,080 shares in the company, valued at approximately $1,371,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now owns 53,397 shares in the company, valued at $12,059,712.45. The disclosure for this sale can be found here. Insiders have sold a total of 30,094 shares of company stock worth $6,824,637 over the last quarter. 8.45% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Strategic Advisors LLC grew its holdings in FedEx by 16.7% during the 2nd quarter. Strategic Advisors LLC now owns 2,138 shares of the shipping service provider’s stock valued at $465,000 after purchasing an additional 306 shares during the last quarter. Handelsbanken Fonder AB bought a new position in FedEx in the 2nd quarter worth about $435,000. Stevens Capital Management LP grew its stake in FedEx by 60.6% in the 2nd quarter. Stevens Capital Management LP now owns 39,340 shares of the shipping service provider’s stock worth $8,550,000 after acquiring an additional 14,845 shares in the last quarter. Vanguard Group Inc. grew its stake in FedEx by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after acquiring an additional 492,840 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in FedEx by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock worth $11,584,000 after acquiring an additional 707 shares in the last quarter. Institutional investors own 75.60% of the company’s stock.

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About FedEx

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

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