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

FedEx (NYSE:FDX - Free Report) had its price objective raised by UBS Group from $311.00 to $350.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the shipping service provider's stock.

Other research analysts also recently issued research reports about the company. 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. Evercore ISI lowered their target price on FedEx from $335.00 to $318.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. Bank of America dropped their target price on FedEx from $347.00 to $345.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Robert W. Baird lowered 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, Morgan Stanley lowered shares of FedEx from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $325.24.

FedEx Trading Down 0.1 %

FDX traded down $0.15 during trading on Friday, reaching $275.73. The company 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 quick ratio of 1.24 and a current ratio of 1.28. FedEx has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a market cap of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. The firm's 50-day simple moving average is $282.71 and its 200 day simple moving average is $281.85.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results 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 net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the business earned $3.99 earnings per share. The firm's revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that FedEx will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's dividend payout ratio (DPR) is currently 34.05%.

Institutional Trading of FedEx

Hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of FedEx in the third quarter valued at about $3,405,000. Czech National Bank lifted its position in shares of FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider's stock worth $12,564,000 after acquiring an additional 2,767 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in shares of FedEx during the 2nd quarter worth approximately $9,226,000. Raymond James & Associates increased its position in shares of FedEx by 6.9% during the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider's stock valued at $132,926,000 after purchasing an additional 31,241 shares during the period. Finally, Versor Investments LP bought a new stake in shares of FedEx during the third quarter valued at approximately $2,096,000. 84.47% of the stock is owned by 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.