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

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

Several research firms have issued reports on FDX. Jefferies Financial Group upped their price target on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Stifel Nicolaus dropped their price target on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. UBS Group upped their price target on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Barclays upped their price target on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at approximately $140,507.46. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock valued at $37,758,773 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Several hedge funds have recently modified their holdings of FDX. Fortis Group Advisors LLC increased its holdings in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $25,000. Financial Management Professionals Inc. grew its stake in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. bought a new stake in shares of FedEx during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

FDX opened at $266.99 on Monday. The company has a market capitalization of $65.70 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. FedEx has a 1-year low of $213.80 and a 1-year high of $291.27. The business has a 50 day moving average price of $259.22 and a two-hundred day moving average price of $254.19.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.41 earnings per share. Research analysts predict that FedEx will post 17.67 EPS for the current fiscal year.

FedEx declared that its board has authorized a share buyback program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

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.