FedEx (NYSE:FDX – Free Report) had its price objective boosted by Evercore from $350.00 to $351.00 in a research note issued to investors on Monday.
Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of FedEx from $460.00 to $400.00 and set an “overweight” rating for the company in a research report on Tuesday, September 8th. Jefferies Financial Group initiated coverage on FedEx in a report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target for the company. HSBC dropped their price objective on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research note on Monday, June 1st. UBS Group decreased their target price on FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Finally, Stephens upgraded FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $354.72.
Read Our Latest Research Report on FedEx
FedEx Stock Performance
FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The company had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Sell-side analysts forecast that FedEx will post 17.55 EPS for the current year.
FedEx Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, September 14th. FedEx’s dividend payout ratio (DPR) is 26.36%.
Hedge Funds Weigh In On FedEx
Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of FedEx in the second quarter valued at approximately $6,508,103,000. Primecap Management Co. CA purchased a new stake in FedEx in the 2nd quarter valued at $2,554,138,000. Franklin Resources Inc. lifted its stake in FedEx by 6.6% during the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after acquiring an additional 318,293 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in FedEx by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock worth $936,688,000 after acquiring an additional 52,963 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of FedEx by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider’s stock valued at $760,328,000 after purchasing an additional 125,950 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.
FedEx Company Profile
FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.
The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.
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