Brokerages Set FedEx Co. (NYSE:FDX) Price Target at $200.77

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Shares of FedEx Co. (NYSE:FDX) have been assigned a consensus rating of “Hold” from the twenty-five ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $194.09.

FDX has been the topic of a number of research reports. UBS Group lowered shares of FedEx from a “neutral” rating to a “sell” rating and cut their target price for the company from $171.00 to $161.00 in a research note on Friday, April 26th. Morgan Stanley cut their target price on shares of FedEx from $156.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 20th. Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 target price on shares of FedEx in a research note on Monday, April 1st. Raymond James cut their target price on shares of FedEx from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Finally, Cowen reaffirmed an “outperform” rating and set a $237.00 target price (down previously from $242.00) on shares of FedEx in a research note on Thursday, March 14th.

In other FedEx news, CEO Frederick W. Smith sold 155,650 shares of FedEx stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the transaction, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.50% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Cordasco Financial Network raised its holdings in FedEx by 181.8% in the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Covenant Multifamily Offices LLC purchased a new position in FedEx in the first quarter worth about $29,000. Berman Capital Advisors LLC purchased a new position in FedEx in the fourth quarter worth about $25,000. Evolution Wealth Advisors LLC purchased a new position in FedEx in the first quarter worth about $31,000. Finally, Advocacy Wealth Management Services LLC raised its holdings in FedEx by 52.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock worth $34,000 after buying an additional 63 shares during the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

Shares of FedEx stock opened at $159.92 on Monday. The company has a market cap of $40.64 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 0.76 and a beta of 1.69. FedEx has a 12-month low of $150.68 and a 12-month high of $259.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.40 and a current ratio of 1.46. The stock has a fifty day moving average price of $164.42.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.93 by $0.08. The business had revenue of $17.81 billion for the quarter, compared to analyst estimates of $17.85 billion. FedEx had a net margin of 0.77% and a return on equity of 21.10%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $5.91 EPS. As a group, sell-side analysts expect that FedEx will post 16.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Monday, June 24th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, June 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.63%. FedEx’s dividend payout ratio (DPR) is currently 16.75%.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Analyst Recommendations for FedEx (NYSE:FDX)

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