FedEx (NYSE:FDX) had its target price raised by Credit Suisse Group from $150.00 to $171.00 in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. Credit Suisse Group currently has an outperform rating on the shipping service provider’s stock.
A number of other equities analysts have also recently issued reports on FDX. Deutsche Bank reduced their target price on FedEx from $142.00 to $128.00 and set a hold rating on the stock in a report on Monday, May 11th. Raymond James cut their price objective on FedEx from $167.00 to $150.00 and set an outperform rating on the stock in a report on Wednesday, March 18th. Daiwa Capital Markets lifted their price objective on FedEx from $104.00 to $147.00 and gave the company a neutral rating in a report on Thursday, June 11th. UBS Group lifted their price objective on FedEx from $135.00 to $158.00 and gave the company a buy rating in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. upgraded FedEx from a neutral rating to an overweight rating and lifted their price objective for the company from $145.00 to $188.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price 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.
The business also recently declared 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 dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, June 26th. FedEx’s dividend payout ratio (DPR) is 27.37%.
In other FedEx news, CEO Frederick W. Smith sold 155,750 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $117.71, for a total transaction of $18,333,332.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.44% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Utah Retirement Systems increased its position in shares of FedEx by 0.4% during the 4th quarter. Utah Retirement Systems now owns 45,987 shares of the shipping service provider’s stock worth $6,953,000 after purchasing an additional 200 shares during the last quarter. Watchman Group Inc. bought a new position in shares of FedEx during the 4th quarter worth approximately $2,310,000. Sailer Financial LLC bought a new position in shares of FedEx during the 4th quarter worth approximately $353,000. Piedmont Investment Advisors Inc. boosted its stake in shares of 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 acquiring an additional 788 shares during the period. Finally, Bank of Hawaii boosted its stake in shares of FedEx by 204.7% during the 4th quarter. Bank of Hawaii now owns 4,659 shares of the shipping service provider’s stock worth $704,000 after acquiring an additional 3,130 shares during the period. 73.98% of the stock is currently owned by hedge funds and other institutional investors.
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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