FedEx (NYSE:FDX) Given New $364.00 Price Target at Stifel Nicolaus

FedEx (NYSE:FDX) had its price objective cut by Stifel Nicolaus from $368.00 to $364.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the shipping service provider’s stock.

Several other research firms also recently weighed in on FDX. Loop Capital upgraded FedEx from a “hold” rating to a “buy” rating and lifted their target price for the stock from $288.00 to $365.00 in a research report on Friday, December 20th. Bank of America lifted their price objective on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Stephens dropped their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company lifted their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.43.

FedEx Price Performance

FDX stock opened at $269.75 on Thursday. The stock has a market cap of $64.97 billion, a PE ratio of 17.19, a P/E/G ratio of 1.14 and a beta of 1.20. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a 50-day moving average price of $282.52 and a 200 day moving average price of $283.52. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the business earned $3.99 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts anticipate that FedEx will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.05%. FedEx’s dividend payout ratio is presently 35.18%.

Insider Buying and Selling

In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Clear Creek Financial Management LLC boosted its position in FedEx by 16.4% in the fourth quarter. Clear Creek Financial Management LLC now owns 1,354 shares of the shipping service provider’s stock valued at $381,000 after buying an additional 191 shares during the last quarter. GFS Advisors LLC purchased a new position in FedEx during the 4th quarter worth approximately $26,855,000. Caprock Group LLC lifted its stake in FedEx by 19.1% during the 4th quarter. Caprock Group LLC now owns 10,222 shares of the shipping service provider’s stock valued at $2,889,000 after acquiring an additional 1,636 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in shares of FedEx in the 4th quarter valued at $32,000. Finally, Institute for Wealth Management LLC. increased its stake in shares of FedEx by 0.9% in the fourth quarter. Institute for Wealth Management LLC. now owns 11,069 shares of the shipping service provider’s stock worth $3,114,000 after acquiring an additional 96 shares during the period. 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.