FedEx (NYSE:FDX) PT Raised to $337.00

FedEx (NYSE:FDX) had its target price upped by Bernstein Bank from $305.00 to $337.00 in a report released on Friday morning. Bernstein Bank currently has an overweight rating on the shipping service provider’s stock.

A number of other research firms have also recently commented on FDX. Robert W. Baird decreased their target price on shares of FedEx from $340.00 to $320.00 and set an outperform rating for the company in a research report on Friday. Argus upped their price target on FedEx from $325.00 to $335.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Oppenheimer restated a market perform rating on shares of FedEx in a research note on Wednesday, June 26th. Daiwa America lowered FedEx from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. Finally, StockNews.com downgraded FedEx from a strong-buy rating to a buy rating in a report on Saturday, August 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $315.95.

FedEx Stock Down 15.2 %

FedEx stock opened at $254.64 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm 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. The business has a fifty day moving average of $292.43 and a two-hundred day moving average of $275.22. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $4.55 EPS. On average, analysts forecast that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company 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 $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Insider Activity at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value 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 $3,797,974.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

Large investors have recently bought and sold shares of the company. Capital International Investors boosted its stake in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares during the last quarter. Sentry LLC purchased a new position in FedEx in the 4th quarter valued at $307,007,000. Vanguard Group Inc. boosted its stake in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Putnam Investments LLC grew its holdings in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after buying an additional 798,084 shares in the last quarter. Finally, Mawer Investment Management Ltd. raised its position in shares of FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares during the last quarter. 84.47% of the stock is currently 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.