Raymond James Trims FedEx (NYSE:FDX) Target Price to $330.00

FedEx (NYSE:FDX) had its price objective lowered by Raymond James from $335.00 to $330.00 in a report published on Friday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

FDX has been the subject of several other reports. Morgan Stanley cut FedEx from an equal weight rating to an underweight rating and cut their target price for the stock from $215.00 to $200.00 in a research note on Friday. The Goldman Sachs Group raised their price objective on FedEx from $316.00 to $333.00 and gave the company a buy rating in a research note on Wednesday, June 26th. Daiwa America downgraded FedEx from a moderate buy rating to a hold rating in a research note on Wednesday, September 11th. HSBC downgraded shares of FedEx from a buy rating to a hold rating and set a $300.00 price target on the stock. in a research note on Friday. Finally, Stephens reiterated an overweight rating and set a $325.00 price objective on shares of FedEx in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $315.95.

FedEx Stock Performance

NYSE:FDX opened at $254.64 on Friday. 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. The company has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. The stock has a fifty day moving average price of $292.43 and a 200-day moving average price of $275.22.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the company earned $4.55 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts anticipate 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. Shareholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. FedEx’s payout ratio is currently 32.04%.

Insider Activity

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of FedEx 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 sale, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Guy M. Erwin II sold 116 shares of the firm’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 completion of the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. 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 ninety days. 8.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FDX. Precision Wealth Strategies LLC acquired a new position in shares of FedEx during the fourth quarter worth approximately $324,000. Quest Partners LLC acquired a new position in FedEx during the fourth quarter worth $267,000. Franklin Resources Inc. raised its holdings in FedEx by 38.6% during the fourth quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock worth $38,934,000 after buying an additional 42,844 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of FedEx by 3.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock valued at $15,283,000 after buying an additional 2,051 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of FedEx by 3.6% during the fourth quarter. US Bancorp DE now owns 113,778 shares of the shipping service provider’s stock worth $28,782,000 after acquiring an additional 3,955 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

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.