BMO Capital Markets Increases FedEx (NYSE:FDX) Price Target to $150.00

FedEx (NYSE:FDX) had its target price raised by BMO Capital Markets from $130.00 to $150.00 in a research report sent to investors on Wednesday morning, Briefing.com Automated Import reports. BMO Capital Markets currently has a market perform rating on the shipping service provider’s stock.

A number of other equities research analysts have also commented on FDX. Daiwa Capital Markets raised their price target on FedEx from $104.00 to $147.00 and gave the stock a neutral rating in a research report on Thursday, June 11th. Citigroup raised their price target on FedEx from $160.00 to $170.00 and gave the company a buy rating in a research note on Wednesday. Stephens decreased their price target on FedEx from $180.00 to $145.00 and set an overweight rating for the company in a research note on Monday, March 16th. Raymond James reduced their target price on FedEx from $167.00 to $150.00 and set an outperform rating for the company in a research note on Wednesday, March 18th. Finally, Oppenheimer reaffirmed a hold rating on shares of FedEx in a report on Wednesday, May 6th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $160.08.

FDX traded down $0.56 during midday trading on Wednesday, reaching $156.10. 222,741 shares of the company were exchanged, compared to its average volume of 2,578,059. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.16 and a current ratio of 1.21. FedEx has a one year low of $88.69 and a one year high of $178.50. The stock has a market capitalization of $41.37 billion, a P/E ratio of 31.91, a PEG ratio of 1.25 and a beta of 1.32. The stock’s 50-day simple moving average is $129.29 and its 200 day simple moving average is $135.77.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $1.11. The company had revenue of $17.36 billion for the quarter, compared to analyst estimates of $16.54 billion. FedEx had a return on equity of 13.44% and a net margin of 1.86%. FedEx’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.01 earnings per share. On average, research analysts anticipate that FedEx will post 9.39 earnings per share for the current year.

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

In related news, CEO Frederick W. Smith sold 155,750 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $117.71, for a total transaction of $18,333,332.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.44% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in FDX. Rafferty Asset Management LLC boosted its position in shares of FedEx by 57.9% during the 4th quarter. Rafferty Asset Management LLC now owns 2,241 shares of the shipping service provider’s stock valued at $339,000 after purchasing an additional 822 shares in the last quarter. Mutual Advisors LLC raised its stake in FedEx by 5.7% during the 4th quarter. Mutual Advisors LLC now owns 2,014 shares of the shipping service provider’s stock worth $305,000 after buying an additional 109 shares during the period. Piedmont Investment Advisors Inc. raised its stake in FedEx by 21.2% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 4,513 shares of the shipping service provider’s stock worth $682,000 after buying an additional 788 shares during the period. Prudential Financial Inc. raised its stake in FedEx by 8.1% during the 4th quarter. Prudential Financial Inc. now owns 346,929 shares of the shipping service provider’s stock worth $52,459,000 after buying an additional 25,873 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new position in FedEx during the 4th quarter worth approximately $229,000. Institutional investors own 73.98% of the company’s stock.

FedEx Company Profile

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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