BMO Capital Markets Increases FedEx (NYSE:FDX) Price Target to $330.00

FedEx (NYSE:FDX) had its target price boosted by BMO Capital Markets from $300.00 to $330.00 in a research report report published on Friday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the shipping service provider’s stock.

A number of other research analysts have also weighed in on the stock. Raymond James decreased their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Finally, Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and lifted their target price for the stock from $288.00 to $365.00 in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $324.88.

FedEx Stock Performance

Shares of FDX stock opened at $275.73 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx has a 12-month low of $234.45 and a 12-month high of $313.84. The business’s 50 day moving average is $282.71 and its two-hundred day moving average is $281.85. The company has a market capitalization of $67.37 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $3.99 EPS. Analysts expect that FedEx will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders 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 2.00%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is presently 34.05%.

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently bought and sold shares of FDX. Geode Capital Management LLC boosted its stake in FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after buying an additional 67,502 shares during the period. Franklin Resources Inc. lifted its holdings in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after acquiring an additional 314,380 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the period. Dimensional Fund Advisors LP increased its holdings in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after purchasing an additional 11,100 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.