FedEx (NYSE:FDX) had its target price increased by Bank of America from $163.00 to $168.00 in a research note issued to investors on Monday morning, Stock Target Advisor reports. They currently have a neutral rating on the shipping service provider’s stock.

Several other analysts also recently weighed in on FDX. Stephens restated a buy rating and issued a $180.00 price objective on shares of FedEx in a report on Friday, February 7th. Wells Fargo & Co decreased their price objective on FedEx from $189.00 to $183.00 and set an overweight rating for the company in a report on Wednesday, December 18th. ValuEngine downgraded shares of FedEx from a buy rating to a hold rating in a report on Tuesday, November 19th. BMO Capital Markets reduced their target price on shares of FedEx from $165.00 to $160.00 and set a market perform rating for the company in a report on Wednesday, December 18th. Finally, Berenberg Bank reiterated a neutral rating and issued a $150.00 target price on shares of FedEx in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $170.20.

Shares of FDX traded down $2.85 during trading hours on Monday, reaching $158.62. 117,342 shares of the company traded hands, compared to its average volume of 2,660,703. The firm has a market cap of $40.94 billion, a price-to-earnings ratio of 755.86, a PEG ratio of 1.21 and a beta of 1.71. FedEx has a 12-month low of $137.78 and a 12-month high of $199.32. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 1.67. The stock’s fifty day moving average price is $153.99 and its 200 day moving average price is $155.81.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, December 17th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.78 by ($0.27). The company had revenue of $17.32 billion for the quarter, compared to analysts’ expectations of $17.69 billion. FedEx had a net margin of 0.11% and a return on equity of 19.10%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.03 earnings per share. On average, research analysts forecast that FedEx will post 10.84 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.64%. FedEx’s dividend payout ratio (DPR) is currently 16.75%.

In related news, Director John A. Edwardson acquired 10,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $148.22 per share, for a total transaction of $1,482,200.00. Following the completion of the acquisition, the director now directly owns 77,966 shares in the company, valued at approximately $11,556,120.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 8.44% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FDX. BlackRock Inc. increased its holdings in shares of FedEx by 9.5% during the second quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock valued at $2,654,161,000 after acquiring an additional 1,395,988 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of FedEx by 28.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,036,716 shares of the shipping service provider’s stock valued at $761,602,000 after acquiring an additional 1,120,770 shares in the last quarter. Parnassus Investments CA increased its holdings in shares of FedEx by 17.1% during the third quarter. Parnassus Investments CA now owns 4,099,219 shares of the shipping service provider’s stock valued at $596,723,000 after acquiring an additional 599,344 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of FedEx during the fourth quarter valued at about $87,573,000. Finally, Millennium Management LLC increased its holdings in shares of FedEx by 2,287.7% during the third quarter. Millennium Management LLC now owns 531,046 shares of the shipping service provider’s stock valued at $77,304,000 after acquiring an additional 508,805 shares in the last quarter. Hedge funds and other institutional investors own 69.79% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

Further Reading: Are sell-side analysts objective?

Analyst Recommendations for FedEx (NYSE:FDX)

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