Stifel Nicolaus Boosts FedEx (FDX) Price Target to $272.00

FedEx (NYSE:FDX) had its target price boosted by Stifel Nicolaus from $221.00 to $272.00 in a report issued on Wednesday, December 20th, MarketBeat reports. They currently have a hold rating on the shipping service provider’s stock.

FDX has been the subject of several other reports. Vetr lowered shares of FedEx to a sell rating and set a $204.84 price target for the company. in a research report on Thursday, August 31st. Zacks Investment Research lowered shares of FedEx from a hold rating to a sell rating in a research report on Monday, November 27th. BMO Capital Markets reaffirmed a buy rating and set a $245.00 price objective on shares of FedEx in a research note on Wednesday, September 6th. Bank of America reaffirmed a buy rating and set a $247.00 price objective (up from $240.00) on shares of FedEx in a research note on Friday, October 6th. Finally, Sanford C. Bernstein set a $236.00 price objective on shares of FedEx and gave the company a hold rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the company’s stock. FedEx currently has a consensus rating of Buy and an average target price of $269.04.

FedEx (NYSE FDX) opened at $271.19 on Wednesday. FedEx has a 1 year low of $182.89 and a 1 year high of $271.39. The stock has a market cap of $72,650.00, a price-to-earnings ratio of 24.93, a P/E/G ratio of 1.60 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company had revenue of $16.30 billion during the quarter, compared to analyst estimates of $15.67 billion. During the same period in the previous year, the business earned $2.80 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. analysts predict that FedEx will post 13.03 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Friday, December 8th. FedEx’s payout ratio is 18.38%.

In other news, EVP Robert B. Carter sold 3,970 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total transaction of $995,398.10. Following the sale, the executive vice president now owns 187,025 shares in the company, valued at $46,892,778.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David P. Steiner sold 3,016 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $266.05, for a total transaction of $802,406.80. Following the sale, the director now owns 16,040 shares in the company, valued at approximately $4,267,442. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,671 shares of company stock worth $17,137,160. Corporate insiders own 8.45% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Salem Investment Counselors Inc. boosted its holdings in FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares during the last quarter. Krilogy Financial LLC boosted its holdings in FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in FedEx in the first quarter worth approximately $100,000. Alexandria Capital LLC boosted its holdings in FedEx by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after purchasing an additional 13 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new stake in FedEx in the third quarter worth approximately $132,000. Institutional investors own 75.66% of the company’s stock.

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About FedEx

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Analyst Recommendations for FedEx (NYSE:FDX)

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