Analysts Set FedEx Corporation (NYSE:FDX) Price Target at $350.54

FedEx Corporation (NYSE:FDX) has been assigned an average recommendation of “Moderate Buy” from the thirty brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $350.5426.

A number of research firms recently commented on FDX. Truist Financial decreased their target price on FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. BMO Capital Markets reaffirmed a “market perform” rating on shares of FedEx in a report on Wednesday, June 24th. Evercore set a $165.00 target price on FedEx in a research report on Friday, June 26th. Stephens raised shares of FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research report on Wednesday, June 24th.

FedEx Trading Down 0.1%

FedEx stock opened at $328.07 on Thursday. FedEx has a 1 year low of $177.05 and a 1 year high of $345.36. The firm’s 50 day moving average price is $319.53 and its 200-day moving average price is $351.69. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The stock has a market cap of $77.65 billion, a P/E ratio of 17.72, a PEG ratio of 1.69 and a beta of 1.30.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The company had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. 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 disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FedEx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in FedEx during the 2nd quarter valued at $6,508,103,000. State Street Corp lifted its holdings in FedEx by 4.2% during the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after buying an additional 382,848 shares in the last quarter. Primecap Management Co. CA purchased a new stake in FedEx in the 2nd quarter valued at about $2,554,138,000. Franklin Resources Inc. boosted its holdings in shares of FedEx by 6.6% in the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after purchasing an additional 318,293 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of FedEx by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after buying an additional 45,818 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.