FedEx (NYSE:FDX) Price Target Raised to $320.00

FedEx (NYSE:FDX - Free Report) had its target price increased by Wells Fargo & Company from $305.00 to $320.00 in a research note released on Friday morning,Benzinga reports. They currently have an equal weight rating on the shipping service provider's stock.

FDX has been the topic of a number of other research reports. Daiwa America cut shares of FedEx from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, September 11th. Hsbc Global Res lowered FedEx from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 20th. Bernstein Bank boosted their price objective on FedEx from $305.00 to $337.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Raymond James cut their target price on FedEx from $335.00 to $330.00 and set a "buy" rating for the company in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their price target on FedEx from $350.00 to $366.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, FedEx has a consensus rating of "Moderate Buy" and an average price target of $325.24.

FedEx Stock Performance

FDX traded down $0.15 during mid-day trading on Friday, reaching $275.73. 8,092,276 shares of the company traded hands, compared to its average volume of 1,820,057. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The company's fifty day moving average price is $282.71 and its 200-day moving average price is $281.85. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $67.37 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $22.14 billion. During the same period last year, the firm earned $3.99 EPS. FedEx's revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts expect that FedEx will post 19.59 EPS for the current year.

FedEx Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. LRI Investments LLC grew its position in shares of FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider's stock worth $137,000 after buying an additional 36 shares in the last quarter. Ascent Wealth Partners LLC grew 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 worth $2,306,000 after acquiring an additional 36 shares in the last quarter. Detalus Advisors LLC raised its holdings in shares of 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 purchasing an additional 37 shares in the last quarter. Sachetta LLC lifted its position in shares of FedEx by 29.1% in the 2nd 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 boosted its stake 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 valued at $533,000 after purchasing an additional 38 shares in the last quarter. 84.47% of the stock is currently 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.