Evercore ISI Trims FedEx (NYSE:FDX) Target Price to $318.00

FedEx (NYSE:FDX) had its price objective trimmed by Evercore ISI from $335.00 to $318.00 in a report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the shipping service provider’s stock.

A number of other brokerages have also recently issued reports on FDX. Robert W. Baird lowered their target price on FedEx from $340.00 to $320.00 and set an outperform rating for the company in a report on Friday. StockNews.com lowered shares of FedEx from a strong-buy rating to a buy rating in a report on Saturday, August 24th. HSBC cut shares of FedEx from a buy rating to a hold rating and set a $300.00 price objective on the stock. in a research note on Friday. Oppenheimer reissued a market perform rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $314.74.

FedEx Trading Up 1.6 %

Shares of FDX stock opened at $258.82 on Friday. The stock’s fifty day moving average price is $291.50 and its two-hundred day moving average price is $275.28. The company has a market cap of $63.69 billion, a PE ratio of 15.02, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.13%. FedEx’s payout ratio is 32.04%.

Insider Transactions at FedEx

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other FedEx news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the transaction, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 over the last ninety days. 8.73% of the stock is currently owned by insiders.

Institutional Trading of FedEx

A number of hedge funds have recently bought and sold shares of FDX. Scarborough Advisors LLC bought a new position in FedEx in the 4th quarter valued at $25,000. Fortis Group Advisors LLC boosted its holdings in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Central Valley Advisors LLC bought a new position in FedEx during the second quarter valued at about $39,000. Abound Wealth Management grew its position in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the period. Finally, Sachetta LLC increased its stake in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by 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.