Wells Fargo & Company Boosts FedEx (NYSE:FDX) Price Target to $270.00

FedEx (NYSE:FDX) had its price objective lifted by Wells Fargo & Company from $240.00 to $270.00 in a report released on Tuesday morning, Marketbeat reports. They currently have an equal weight rating on the shipping service provider’s stock.

A number of other research firms have also recently commented on FDX. Deutsche Bank Aktiengesellschaft upped their target price on FedEx from $240.00 to $282.00 in a research note on Thursday, May 18th. Sanford C. Bernstein increased their price objective on FedEx from $261.00 to $284.00 in a research note on Wednesday, June 21st. Loop Capital dropped their price objective on FedEx from $263.00 to $255.00 in a research note on Thursday, June 22nd. Stifel Nicolaus upped their target price on FedEx from $259.00 to $288.00 in a report on Wednesday, July 26th. Finally, UBS Group upped their target price on FedEx from $272.00 to $312.00 in a report on Friday, September 1st. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $251.82.

FedEx Price Performance

Shares of FedEx stock opened at $253.99 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $63.88 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.21 and a beta of 1.36. FedEx has a 52 week low of $141.92 and a 52 week high of $270.95. The stock’s 50-day simple moving average is $260.94 and its 200-day simple moving average is $237.49.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 EPS for the quarter, topping analysts’ consensus estimates of $4.85 by $0.09. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.55 billion. During the same period in the previous year, the business earned $6.87 earnings per share. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, analysts expect that FedEx will post 17.37 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, September 8th. FedEx’s dividend payout ratio is currently 32.52%.

Insider Activity

In other news, EVP Michael C. Lenz sold 5,745 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the sale, the executive vice president now directly owns 22,478 shares in the company, valued at approximately $5,886,538.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Michael C. Lenz sold 5,745 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the sale, the executive vice president now directly owns 22,478 shares in the company, valued at approximately $5,886,538.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert B. Carter sold 19,270 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $246.00, for a total value of $4,740,420.00. Following the sale, the executive vice president now owns 58,875 shares in the company, valued at $14,483,250. The disclosure for this sale can be found here. Insiders have sold 35,816 shares of company stock worth $8,822,147 in the last ninety days. Company insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Lakewood Asset Management LLC purchased a new stake in shares of FedEx during the 4th quarter valued at approximately $26,000. Guardian Wealth Advisors LLC purchased a new stake in shares of FedEx during the 1st quarter valued at approximately $26,000. GW&K Investment Management LLC purchased a new stake in shares of FedEx during the 1st quarter valued at approximately $27,000. Glass Jacobson Investment Advisors llc purchased a new stake in shares of FedEx during the 2nd quarter valued at approximately $27,000. Finally, Horan Securities Inc. increased its holdings in FedEx by 85.7% in the 1st quarter. Horan Securities Inc. now owns 130 shares of the shipping service provider’s stock valued at $30,000 after purchasing an additional 60 shares during the last quarter. 73.61% of the stock is owned by hedge funds and other 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.