Robert W. Baird Trims FedEx (NYSE:FDX) Target Price to $320.00

FedEx (NYSE:FDX) had its price objective decreased by Robert W. Baird from $340.00 to $320.00 in a research note issued to investors on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the shipping service provider’s stock.

Several other research firms have also recently commented on FDX. TD Cowen started coverage on FedEx in a report on Thursday, August 22nd. They issued a buy rating and a $334.00 price target for the company. Evercore ISI cut their target price on FedEx from $339.00 to $335.00 and set an outperform rating for the company in a research note on Thursday, September 12th. Stephens reissued an overweight rating and set a $325.00 price target on shares of FedEx in a research report on Wednesday, June 26th. The Goldman Sachs Group raised their price objective on shares of FedEx from $316.00 to $333.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. Finally, Bank of America decreased their target price on shares of FedEx from $347.00 to $345.00 and set a buy rating on the stock in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, FedEx presently has an average rating of Moderate Buy and an average price target of $315.95.

FedEx Stock Down 15.2 %

NYSE FDX opened at $254.64 on Friday. The business has a fifty day moving average price of $292.43 and a 200 day moving average price of $275.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx has a one year low of $224.69 and a one year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the business posted $4.55 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Research analysts anticipate that FedEx will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.17%. FedEx’s payout ratio is 32.04%.

Insider Buying and Selling at FedEx

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last quarter. Corporate insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Capital International Investors increased its stake 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 period. Putnam Investments LLC increased its stake in FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the period. Mawer Investment Management Ltd. lifted its stake in shares of FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after acquiring an additional 684,679 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 shares in the last quarter. 84.47% 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.