FedEx Corporation (NYSE:FDX) Receives $350.54 Consensus PT from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on FedEx, with 17 buy ratings, 10 holds, two sells and one strong buy. The average 12-month price target is approximately $348.32, implying upside from the reported $316.44 share price.
• FedEx reported quarterly EPS of $5.88 on revenue of $23.26 billion, while analysts project full-year EPS of about $17.60. The company also declared a quarterly dividend of $1.22, equivalent to a 1.5% annual yield.
• Institutional investors own 84.47% of FedEx, although director Paul Walsh recently sold 5,042 shares for approximately $1.64 million. The stock traded below both its 50-day and 200-day moving averages.

Shares of FedEx Corporation (NYSE:FDX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the thirty research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $348.3204.

Several brokerages have commented on FDX. Rothschild & Co Redburn decreased their target price on shares of FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 2nd. Wall Street Zen upgraded shares of FedEx to a "hold" rating in a research report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a "buy" rating to a "hold" rating in a research report on Wednesday, May 27th. UBS Group decreased their price objective on shares of FedEx from $445.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Finally, Sanford C. Bernstein set a $397.00 price objective on shares of FedEx in a research report on Wednesday, June 24th.

Insiders Place Their Bets

In other FedEx news, Director Paul Walsh sold 5,042 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System boosted its stake in shares of FedEx by 37,961.3% during the 2nd quarter. California State Teachers Retirement System now owns 98,431,789 shares of the shipping service provider's stock valued at $30,821,946,000 after buying an additional 98,173,175 shares during the last quarter. BlackRock Inc. purchased a new position in shares of FedEx during the 2nd quarter valued at approximately $6,508,103,000. State Street Corp boosted its stake in shares of FedEx by 4.2% during the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider's stock valued at $2,763,824,000 after buying an additional 382,848 shares during the last quarter. Primecap Management Co. CA purchased a new position in shares of FedEx during the 2nd quarter valued at approximately $2,554,138,000. Finally, Franklin Resources Inc. boosted its stake in shares of 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 buying an additional 318,293 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

FDX traded down $6.08 during trading on Monday, hitting $316.44. The stock had a trading volume of 369,025 shares, compared to its average volume of 2,103,963. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The firm has a market capitalization of $74.89 billion, a P/E ratio of 17.10, a PEG ratio of 1.71 and a beta of 1.32. The company's 50-day moving average price is $319.29 and its 200 day moving average price is $348.55. FedEx has a twelve month low of $177.86 and a twelve month high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The company had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, equities research analysts forecast that FedEx will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, September 14th. FedEx's dividend payout ratio is currently 26.36%.

About FedEx

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.