FedEx (NYSE:FDX) Given New $320.00 Price Target at Raymond James

FedEx (NYSE:FDX) had its target price hoisted by Raymond James from $305.00 to $320.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the shipping service provider’s stock.

Other research analysts have also issued research reports about the stock. BMO Capital Markets increased their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday. Susquehanna reduced their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock 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 objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Stephens cut their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Loop Capital upgraded FedEx from a “hold” rating to a “buy” rating and raised their price target for the stock from $288.00 to $365.00 in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $324.88.

FedEx Price Performance

FedEx stock opened at $275.73 on Friday. The company has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. The stock’s 50 day moving average is $282.71 and its 200-day moving average is $281.85. 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.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $3.99 EPS. Equities research analysts expect that FedEx will post 19.59 EPS for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid 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 is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Evermay Wealth Management LLC grew its holdings in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of FedEx during the third quarter worth $31,000. Abound Wealth Management grew its stake in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in FedEx in the third quarter valued at $47,000. Finally, Sachetta LLC raised its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

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.