FedEx (FDX) Price Target Raised to $272.00

FedEx (NYSE:FDX) had its target price lifted by Stifel Nicolaus from $221.00 to $272.00 in a report released on Wednesday, MarketBeat reports. They currently have a hold rating on the shipping service provider’s stock.

Several other research firms also recently commented on FDX. BMO Capital Markets boosted their target price on shares of FedEx from $265.00 to $270.00 and gave the stock an outperform rating in a research report on Wednesday. Wells Fargo & Company set a $275.00 target price on shares of FedEx and gave the stock a buy rating in a research report on Wednesday. Sanford C. Bernstein set a $236.00 target price on shares of FedEx and gave the stock a hold rating in a research report on Wednesday. Credit Suisse Group reissued a positive rating and issued a $283.00 target price (up from $278.00) on shares of FedEx in a research report on Wednesday. Finally, Cowen reissued an outperform rating and issued a $280.00 target price (up from $240.00) on shares of FedEx in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $251.59.

Shares of FedEx (NYSE FDX) traded down $0.15 on Wednesday, reaching $250.02. 1,333,973 shares of the company were exchanged, compared to its average volume of 2,012,883. FedEx has a 52-week low of $182.89 and a 52-week high of $255.11. The stock has a market capitalization of $67,017.94, a P/E ratio of 23.04, a PEG ratio of 1.52 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.57.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.29. The company had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.80 earnings per share. equities analysts predict that FedEx will post 12.93 earnings per share for the current year.

The company also recently disclosed 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. This represents a $2.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s dividend payout ratio is currently 18.43%.

In related news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the sale, the insider now directly owns 36,747 shares of the company’s stock, valued at approximately $8,395,219.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,064 shares of company stock valued at $7,820,036. 8.45% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. raised its stake in FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares during the last quarter. Krilogy Financial LLC raised its stake in FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in FedEx during the 1st quarter valued at $100,000. Alexandria Capital LLC raised its stake in FedEx by 2.5% during the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after purchasing an additional 13 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. acquired a new position in FedEx during the 3rd quarter valued at $132,000. Hedge funds and other institutional investors own 75.60% of the company’s stock.

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FedEx Company Profile

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.

Analyst Recommendations for FedEx (NYSE:FDX)

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