FedEx (NYSE:FDX) Price Target Raised to $170.00 at Citigroup

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FedEx (NYSE:FDX) had its price target hoisted by Citigroup from $160.00 to $170.00 in a research note published on Wednesday, Briefing.com Automated Import reports. They currently have a buy rating on the shipping service provider’s stock.

A number of other research firms have also recently weighed in on FDX. Daiwa Capital Markets lifted their price objective on shares of FedEx from $104.00 to $147.00 and gave the company a neutral rating in a report on Thursday, June 11th. Oppenheimer reissued a hold rating on shares of FedEx in a research note on Wednesday, May 6th. Wells Fargo & Co boosted their target price on shares of FedEx from $146.00 to $153.00 and gave the stock an overweight rating in a research note on Wednesday, June 3rd. Stifel Nicolaus cut their target price on shares of FedEx from $136.00 to $120.00 in a research note on Wednesday, March 18th. Finally, Credit Suisse Group boosted their target price on shares of FedEx from $121.00 to $150.00 and gave the stock an outperform rating in a research note on Friday, June 19th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and an average price target of $160.08.

FDX traded down $0.68 on Wednesday, reaching $155.98. The stock had a trading volume of 3,217,319 shares, compared to its average volume of 2,578,059. FedEx has a 12-month low of $88.69 and a 12-month high of $178.50. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.66. The business’s 50-day moving average price is $129.29 and its two-hundred day moving average price is $135.77. The company has a market cap of $41.37 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.25 and a beta of 1.32.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 30th. The shipping service provider reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $1.11. FedEx had a net margin of 1.86% and a return on equity of 13.44%. The company had revenue of $17.36 billion during the quarter, compared to analysts’ expectations of $16.54 billion. During the same quarter in the previous year, the company earned $5.01 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts predict that FedEx will post 9.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Monday, June 29th will be issued a $0.65 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.60 annualized dividend and a yield of 1.67%. FedEx’s payout ratio is 27.37%.

In other FedEx news, CEO Frederick W. Smith sold 155,750 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $117.71, for a total value of $18,333,332.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.44% of the company’s stock.

Several hedge funds have recently modified their holdings of FDX. Rafferty Asset Management LLC lifted its holdings in shares of FedEx by 57.9% in the 4th quarter. Rafferty Asset Management LLC now owns 2,241 shares of the shipping service provider’s stock worth $339,000 after acquiring an additional 822 shares during the last quarter. Mutual Advisors LLC lifted its holdings in shares of FedEx by 5.7% in the 4th quarter. Mutual Advisors LLC now owns 2,014 shares of the shipping service provider’s stock worth $305,000 after acquiring an additional 109 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its holdings in shares of FedEx by 21.2% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 4,513 shares of the shipping service provider’s stock worth $682,000 after acquiring an additional 788 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of FedEx by 8.1% in the 4th quarter. Prudential Financial Inc. now owns 346,929 shares of the shipping service provider’s stock worth $52,459,000 after acquiring an additional 25,873 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $229,000. Hedge funds and other institutional investors own 73.98% 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.

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Analyst Recommendations for FedEx (NYSE:FDX)

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