Analysts Set FedEx Corporation (NYSE:FDX) Target Price at $283.25

Key Points

• FedEx Corporation has received a consensus rating of "Moderate Buy" from 30 brokerages, with a majority assigning buy ratings and an average target price of $283.25.
• The company reported $6.07 earnings per share (EPS) for the most recent quarter, beating estimates, and had a revenue of $22.20 billion.
• FedEx recently increased its quarterly dividend to $1.45 per share, representing a 2.7% yield, and has a dividend payout ratio of 34.36%.

Shares of FedEx Corporation (NYSE:FDX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the thirty analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $283.25.

A number of equities analysts recently issued reports on the company. Wells Fargo & Company upped their price target on FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. BMO Capital Markets reduced their price target on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday, May 19th. Stephens restated an "overweight" rating and issued a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. Wall Street Zen upgraded shares of FedEx from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, BNP Paribas Exane upgraded FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price objective for the company in a research report on Thursday, July 3rd.

Insider Buying and Selling at FedEx

In other FedEx news, Director R Brad Martin sold 2,123 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director directly owned 8,935 shares in the company, valued at $2,160,036.25. This represents a 19.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the sale, the director owned 15,513 shares of the company's stock, valued at $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock valued at $2,228,816 in the last ninety days. Insiders own 8.87% of the company's stock.

Hedge Funds Weigh In On FedEx

Several institutional investors have recently made changes to their positions in FDX. Brighton Jones LLC increased its position in FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after buying an additional 207 shares during the period. World Investment Advisors raised its holdings in shares of FedEx by 7.3% during the fourth quarter. World Investment Advisors now owns 11,632 shares of the shipping service provider's stock valued at $3,273,000 after buying an additional 796 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of FedEx during the fourth quarter valued at approximately $18,703,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of FedEx during the fourth quarter valued at approximately $28,000. Finally, Aviva PLC raised its holdings in shares of FedEx by 68.7% during the fourth quarter. Aviva PLC now owns 139,538 shares of the shipping service provider's stock valued at $39,256,000 after buying an additional 56,803 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 0.2%

FDX traded up $0.40 on Friday, reaching $217.50. The company's stock had a trading volume of 1,819,189 shares, compared to its average volume of 2,005,333. The stock has a 50 day moving average of $227.85 and a two-hundred day moving average of $234.90. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $51.31 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.13 and a beta of 1.30. FedEx has a fifty-two week low of $194.29 and a fifty-two week high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same period in the prior year, the company posted $5.41 earnings per share. As a group, analysts forecast that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were paid a dividend of $1.45 per share. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.7%. FedEx's payout ratio is presently 34.36%.

About FedEx

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.