Loop Capital Trims FedEx (NYSE:FDX) Target Price to $288.00

FedEx (NYSE:FDX) had its price target cut by Loop Capital from $317.00 to $288.00 in a research report released on Monday, Benzinga reports. They currently have a hold rating on the shipping service provider’s stock.

Several other equities research analysts also recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of FedEx from $327.00 to $321.00 and set a buy rating for the company in a research note on Friday, September 20th. Robert W. Baird lowered their price objective on FedEx from $340.00 to $320.00 and set an outperform rating for the company in a research report on Friday, September 20th. Evercore ISI reduced their target price on FedEx from $335.00 to $318.00 and set an outperform rating on the stock in a research report on Friday, September 20th. BMO Capital Markets lowered their price target on FedEx from $325.00 to $300.00 and set a market perform rating for the company in a report on Friday, September 20th. Finally, Argus upped their price objective on shares of FedEx from $325.00 to $335.00 and gave the company a buy rating in a report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $314.74.

FedEx Stock Down 1.2 %

Shares of NYSE FDX opened at $263.80 on Monday. The stock has a market capitalization of $64.45 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The stock’s fifty day simple moving average is $290.58 and its two-hundred day simple moving average is $275.42.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (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 analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $4.55 EPS. As a group, analysts expect that FedEx will post 19.66 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 paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Insider Activity

In related news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Institutional investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its holdings in FedEx by 20.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after acquiring an additional 5,055 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in FedEx during the 1st quarter worth $1,667,000. Allegheny Financial Group LTD bought a new position in shares of FedEx in the first quarter valued at approximately $203,000. Hilltop National Bank bought a new stake in FedEx during the first quarter worth approximately $476,000. Finally, Csenge Advisory Group increased its position in shares of FedEx by 14.9% during the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after purchasing an additional 298 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.