FedEx (NYSE:FDX) Given New $350.00 Price Target at UBS Group

FedEx (NYSE:FDX) had its target price lifted by UBS Group from $311.00 to $350.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the shipping service provider’s stock.

Several other analysts also recently commented on FDX. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Barclays increased their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. BMO Capital Markets lowered their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Finally, Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and increased their price objective for the company from $288.00 to $365.00 in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $324.88.

FedEx Stock Performance

NYSE:FDX opened at $275.73 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a 50-day simple moving average of $282.71 and a two-hundred day simple moving average of $281.85. The firm has a market capitalization of $67.37 billion, a PE ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the company posted $3.99 EPS. The firm’s revenue was down .7% on a year-over-year basis. Analysts forecast that FedEx will post 19.59 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently added to or reduced their stakes in FDX. LRI Investments LLC boosted its position in shares of FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC boosted its holdings in FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after acquiring an additional 36 shares during the period. Detalus Advisors LLC grew its position in FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after acquiring an additional 37 shares during the last quarter. Sachetta LLC increased its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the period. Finally, IVC Wealth Advisors LLC lifted its position in shares of FedEx by 2.0% during the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after purchasing an additional 38 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

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.