FedEx (NYSE:FDX) PT Lowered to $330.00

FedEx (NYSE:FDX) had its price target trimmed by Susquehanna from $345.00 to $330.00 in a report issued on Friday, Benzinga reports. The firm currently has a positive rating on the shipping service provider’s stock.

Several other equities analysts have also issued reports on FDX. Stifel Nicolaus reaffirmed a buy rating and set a $327.00 price objective (up previously from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Daiwa America lowered shares of FedEx from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. UBS Group cut their target price on shares of FedEx from $333.00 to $311.00 and set a buy rating on the stock in a report on Friday. Evercore ISI lowered their price objective on shares of FedEx from $335.00 to $318.00 and set an outperform rating on the stock in a research report on Friday. Finally, Bank of America lowered their target price on FedEx from $347.00 to $345.00 and set a buy rating on the stock in a research note on Wednesday, September 18th. Two 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $314.74.

FedEx Price Performance

Shares of NYSE FDX opened at $258.82 on Friday. The stock’s 50-day moving average is $291.50 and its two-hundred day moving average is $275.28. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx has a 1-year low of $224.69 and a 1-year high of $313.84. The company has a market cap of $63.69 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

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

FedEx Announces Dividend

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

Insider Activity

In related news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 over the last three months. 8.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Several hedge funds and other institutional investors have recently modified their holdings of FDX. Fortis Group Advisors LLC boosted its position in shares of FedEx by 100.0% in the fourth 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 period. Scarborough Advisors LLC acquired a new stake in FedEx in the fourth quarter valued at approximately $25,000. Central Valley Advisors LLC acquired a new stake in FedEx in the second quarter valued at approximately $39,000. Security National Bank acquired a new position in shares of FedEx during the fourth quarter worth $44,000. Finally, Abound Wealth Management grew its holdings in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Company Profile

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.