FedEx (NYSE:FDX) had its target price boosted by Goldman Sachs Group from $153.00 to $169.00 in a research report report published on Wednesday morning, Briefing.com Automated Import reports. The firm currently has a conviction-buy rating on the shipping service provider’s stock.
A number of other equities analysts have also recently commented on the company. Raymond James lowered their price target on FedEx from $167.00 to $150.00 and set an outperform rating for the company in a report on Wednesday, March 18th. Stifel Nicolaus lowered their price target on FedEx from $136.00 to $120.00 in a report on Wednesday, March 18th. ValuEngine cut FedEx from a buy rating to a hold rating in a report on Thursday, April 2nd. Daiwa Capital Markets upped their target price on FedEx from $104.00 to $147.00 and gave the stock a neutral rating in a report on Thursday, June 11th. Finally, Bank of America raised FedEx from a neutral rating to a buy rating and upped their target price for the stock from $117.00 to $140.00 in a report on Monday, April 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $160.08.
Shares of NYSE:FDX traded down $0.56 during trading on Wednesday, reaching $156.10. 222,741 shares of the company traded hands, compared to its average volume of 2,578,059. The company’s 50 day moving average is $129.29 and its two-hundred day moving average is $135.77. The firm has a market capitalization of $41.37 billion, a PE ratio of 31.91, a PEG ratio of 1.25 and a beta of 1.32. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.66. FedEx has a 52 week low of $88.69 and a 52 week high of $178.50.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Monday, June 29th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.60 annualized dividend and a yield of 1.67%. FedEx’s payout ratio is currently 27.37%.
In other FedEx news, CEO Frederick W. Smith sold 155,750 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $117.71, for a total value of $18,333,332.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.44% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of FedEx by 3.9% in the first quarter. BlackRock Inc. now owns 17,395,107 shares of the shipping service provider’s stock worth $2,109,329,000 after purchasing an additional 645,024 shares during the last quarter. Parnassus Investments CA raised its stake 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 worth $744,091,000 after purchasing an additional 1,960,883 shares during the last quarter. Artisan Partners Limited Partnership raised its stake 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 worth $761,602,000 after purchasing an additional 1,120,770 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of FedEx by 1.9% in the first quarter. Geode Capital Management LLC now owns 3,335,834 shares of the shipping service provider’s stock worth $403,607,000 after purchasing an additional 62,064 shares during the last quarter. Finally, Southeastern Asset Management Inc. TN raised its stake in shares of FedEx by 5.6% in the first quarter. Southeastern Asset Management Inc. TN now owns 2,565,436 shares of the shipping service provider’s stock worth $311,084,000 after purchasing an additional 135,696 shares during the last quarter. 73.98% of the stock is owned by hedge funds and other institutional investors.
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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