FedEx (NYSE:FDX) Price Target Cut to $318.00

FedEx (NYSE:FDX) had its price objective decreased by Evercore ISI from $335.00 to $318.00 in a research note published on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the shipping service provider’s stock.

A number of other analysts have also recently weighed in on FDX. HSBC cut shares of FedEx from a buy rating to a hold rating and set a $300.00 target price on the stock. in a research note on Friday. Stephens restated an overweight rating and issued a $325.00 target price on shares of FedEx in a research note on Wednesday, June 26th. StockNews.com cut shares of FedEx from a strong-buy rating to a buy rating in a research report on Saturday, August 24th. Robert W. Baird decreased their price objective on shares of FedEx from $340.00 to $320.00 and set an outperform rating on the stock in a research note on Friday. Finally, TD Cowen reduced their price objective on FedEx from $334.00 to $328.00 and set a buy rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, FedEx presently has a consensus rating of Moderate Buy and a consensus target price of $314.74.

FedEx Price Performance

Shares of FedEx stock opened at $258.82 on Friday. The firm has a fifty day moving average price of $291.50 and a two-hundred day moving average price of $275.28. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The company has a market cap of $63.69 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released 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 net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the prior year, the firm posted $4.55 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Analysts expect that FedEx will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Insider Buying and Selling

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction 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 $278,293.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by company insiders.

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital International Investors grew its holdings in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Sentry LLC bought a new stake in shares of FedEx during the 4th quarter worth approximately $307,007,000. Vanguard Group Inc. grew its position in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Putnam Investments LLC increased its holdings in shares of FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after acquiring an additional 798,084 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its stake in shares of FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after buying an additional 684,679 shares during the last quarter. 84.47% of the stock is currently 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.