FedEx (NYSE:FDX) Price Target Increased to $333.00 by Analysts at The Goldman Sachs Group

FedEx (NYSE:FDX) had its price target lifted by The Goldman Sachs Group from $316.00 to $333.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley upped their price target on FedEx from $210.00 to $215.00 and gave the stock an equal weight rating in a research note on Wednesday. Stifel Nicolaus decreased their target price on FedEx from $306.00 to $303.00 and set a buy rating for the company in a research report on Wednesday, April 3rd. Raymond James dropped their price target on shares of FedEx from $325.00 to $300.00 and set an outperform rating on the stock in a research report on Monday, June 24th. Bank of America upped their price objective on shares of FedEx from $340.00 to $347.00 and gave the stock a buy rating in a report on Wednesday. Finally, Barclays lifted their target price on shares of FedEx from $310.00 to $350.00 and gave the stock an overweight rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $314.00.

FedEx Trading Up 1.5 %

Shares of NYSE FDX opened at $299.84 on Wednesday. The business has a 50 day simple moving average of $258.10 and a 200 day simple moving average of $256.48. FedEx has a 52 week low of $224.69 and a 52 week high of $302.41. The stock has a market cap of $73.78 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.06 and a beta of 1.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.36.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.94 earnings per share. On average, research analysts predict that FedEx will post 20.53 earnings per share for the current fiscal year.

FedEx announced that its board has authorized a stock repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Transactions at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,810 shares of company stock valued at $32,924,413. Corporate insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sentry LLC bought a new position in shares of FedEx in the fourth quarter worth about $1,811,748,000. Norges Bank acquired a new position in FedEx during the 4th quarter worth $700,291,000. Capital International Investors boosted its position in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares during the period. Finally, Putnam Investments LLC raised its position in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after acquiring an additional 798,084 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

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.