FedEx (NYSE:FDX) Price Target Lowered to $272.00 at Bank of America

FedEx (NYSE:FDX) had its target price cut by Bank of America from $295.00 to $272.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the shipping service provider’s stock.

FDX has been the topic of a number of other reports. Truist Financial started coverage on shares of FedEx in a research note on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Wells Fargo & Company reduced their price target on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Finally, Stifel Nicolaus reduced their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $301.60.

FedEx Stock Performance

FDX opened at $230.25 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $259.95 and its 200 day moving average price is $272.64. FedEx has a twelve month low of $217.22 and a twelve month high of $313.84. The firm has a market capitalization of $55.46 billion, a PE ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period last year, the firm earned $3.86 earnings per share. FedEx’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Activity

In other FedEx news, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred 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 transaction, 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 disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

Institutional investors and hedge funds have recently bought and sold shares of the business. bLong Financial LLC purchased a new stake in FedEx in the 4th quarter valued at $391,000. Virtu Financial LLC purchased a new position in FedEx during the 3rd quarter worth $3,405,000. Lodestone Wealth Management LLC purchased a new position in FedEx during the 4th quarter worth $461,000. Wedmont Private Capital raised its position in FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares during the last quarter. Finally, GFS Advisors LLC purchased a new position in FedEx during the 4th quarter worth $26,855,000. 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.