Citigroup Boosts FedEx (NYSE:FDX) Price Target to $331.00

FedEx (NYSE:FDX) had its price target boosted by Citigroup from $301.00 to $331.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a buy rating on the shipping service provider’s stock.

Other analysts have also recently issued research reports about the stock. Bank of America reduced their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna decreased their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research report on Friday, September 20th. Stifel Nicolaus lowered their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, Bernstein Bank raised their target price on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Price Performance

Shares of FedEx stock opened at $294.46 on Tuesday. The stock has a market capitalization of $71.94 billion, a P/E ratio of 18.17, a PEG ratio of 1.17 and a beta of 1.17. The business has a 50 day simple moving average of $275.18 and a two-hundred day simple moving average of $276.07. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts predict that FedEx will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. FedEx’s payout ratio is presently 34.05%.

Institutional Trading of FedEx

Several large investors have recently made changes to their positions in FDX. SeaCrest Wealth Management LLC lifted its position in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares during the period. LRI Investments LLC grew its holdings in FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC increased its stake in FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC grew its stake 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 buying an additional 37 shares during the period. Finally, Sachetta LLC boosted its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Company Profile

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.