Stifel Nicolaus Cuts FedEx (NYSE:FDX) Price Target to $321.00

FedEx (NYSE:FDX) had its target price lowered by Stifel Nicolaus from $327.00 to $321.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the shipping service provider’s stock.

FDX has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their target price on FedEx from $359.00 to $350.00 and set an overweight rating on the stock in a research report on Friday. StockNews.com lowered shares of FedEx from a strong-buy rating to a buy rating in a research note on Saturday, August 24th. Susquehanna decreased their target price on shares of FedEx from $345.00 to $330.00 and set a positive rating for the company in a research report on Friday. Bernstein Bank raised their price target on shares of FedEx from $305.00 to $337.00 and gave the company an overweight rating in a research report on Friday. Finally, Raymond James decreased their price objective on FedEx from $335.00 to $330.00 and set a buy rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of Moderate Buy and an average price target of $315.95.

FedEx Stock Down 15.2 %

FedEx stock opened at $254.64 on Friday. The company has a market capitalization of $62.66 billion, a PE ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The firm’s fifty day moving average is $292.43 and its 200 day moving average is $275.22. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the business earned $4.55 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts predict that FedEx will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 yield of 2.17%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Insider Activity

In related news, EVP Robert B. Carter sold 16,010 shares of FedEx 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 completion of the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. 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 business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The stock was 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 directly owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last 90 days. Insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of FedEx by 5.6% during 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 purchasing an additional 1,056,061 shares in the last quarter. Capital International Investors boosted its stake in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the period. Putnam Investments LLC grew its position in 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. Mawer Investment Management Ltd. increased its stake in FedEx by 43.5% in 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 acquiring an additional 684,679 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

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.