FedEx (NYSE:FDX) Price Target Raised to $181.00

FedEx (NYSE:FDX) had its price objective hoisted by UBS Group from $158.00 to $181.00 in a research note released on Wednesday morning, BenzingaRatingsTable reports. UBS Group currently has a buy rating on the shipping service provider’s stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Co lifted their price objective on FedEx from $153.00 to $179.00 and gave the stock an overweight rating in a report on Wednesday. Stifel Nicolaus dropped their price target on FedEx from $136.00 to $120.00 in a research report on Wednesday, March 18th. Deutsche Bank dropped their price target on FedEx from $142.00 to $128.00 and set a hold rating for the company in a research report on Monday, May 11th. Oppenheimer reissued a hold rating on shares of FedEx in a research report on Wednesday, May 6th. Finally, Raymond James raised their price target on FedEx from $150.00 to $165.00 and gave the stock an outperform rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. FedEx has an average rating of Hold and an average target price of $160.08.

FDX opened at $155.48 on Wednesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.58 and a quick ratio of 1.16. The business has a 50 day simple moving average of $131.09 and a 200-day simple moving average of $135.68. The stock has a market capitalization of $40.62 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.32 and a beta of 1.32. FedEx has a 12 month low of $88.69 and a 12 month high of $178.50.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 EPS for the quarter, beating the consensus estimate of $1.42 by $1.11. The business had revenue of $17.36 billion during the quarter, compared to analysts’ expectations of $16.54 billion. FedEx had a return on equity of 13.49% and a net margin of 1.86%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $5.01 EPS. Research analysts anticipate that FedEx will post 9.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Monday, June 29th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, June 26th. FedEx’s payout ratio is 27.37%.

In other FedEx news, CEO Frederick W. Smith sold 155,750 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $117.71, for a total transaction of $18,333,332.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.44% of the company’s stock.

Several large investors have recently modified their holdings of FDX. Norges Bank acquired a new stake in shares of FedEx in the fourth quarter valued at about $301,733,000. Parnassus Investments CA grew its position in shares of FedEx by 47.0% in the first quarter. Parnassus Investments CA now owns 6,136,330 shares of the shipping service provider’s stock valued at $744,091,000 after purchasing an additional 1,960,883 shares during the last quarter. Invesco Ltd. grew its position in shares of FedEx by 212.2% in the first quarter. Invesco Ltd. now owns 2,116,047 shares of the shipping service provider’s stock valued at $256,592,000 after purchasing an additional 1,438,225 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of FedEx in the first quarter valued at about $10,618,000. Finally, Artisan Partners Limited Partnership grew its position in shares of FedEx by 28.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,036,716 shares of the shipping service provider’s stock valued at $761,602,000 after purchasing an additional 1,120,770 shares during the last quarter. 73.98% of the stock is currently owned by institutional investors.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Analyst Recommendations for FedEx (NYSE:FDX)

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