FedEx (NYSE:FDX) Price Target Raised to $348.00

FedEx (NYSE:FDX - Free Report) had its price target boosted by Bank of America from $325.00 to $348.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the shipping service provider's stock.

FDX has been the topic of several other research reports. Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an "outperform" rating on the stock in a report on Friday, September 20th. Wells Fargo & Company upped their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Friday. HSBC downgraded shares of FedEx from a "buy" rating to a "hold" rating and set a $300.00 price target for the company. in a research note on Friday, September 20th. Robert W. Baird dropped their price objective on shares of FedEx from $340.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, September 20th. Finally, Sanford C. Bernstein cut shares of FedEx from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and an average target price of $325.24.

FedEx Stock Down 0.1 %

Shares of NYSE FDX traded down $0.15 during midday trading on Friday, hitting $275.73. The company's stock had a trading volume of 8,092,276 shares, compared to its average volume of 1,820,057. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The firm has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The business's fifty day simple moving average is $282.48 and its two-hundred day simple moving average is $281.66. FedEx has a 1 year low of $234.45 and a 1 year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $22 billion during the quarter, compared to analysts' expectations of $22.14 billion. During the same quarter last year, the company posted $3.99 EPS. The firm's revenue was down .7% compared to the same quarter last year. On average, equities analysts predict that FedEx will post 19.59 EPS for the current year.

FedEx Announces Dividend

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

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock valued at $2,147,540,000 after acquiring an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider's stock valued at $674,336,000 after purchasing an additional 578,350 shares during the period. Franklin Resources Inc. raised its stake in shares of FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider's stock worth $52,667,000 after purchasing an additional 183,940 shares during the period. Finally, Ceredex Value Advisors LLC grew its position in FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider's stock valued at $101,022,000 after buying an additional 161,022 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

About FedEx

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.