FedEx (NYSE:FDX) Price Target Lowered to $345.00 at Stephens

FedEx (NYSE:FDX) had its target price decreased by Stephens from $350.00 to $345.00 in a research report sent to investors on Friday,Benzinga reports. Stephens currently has an overweight rating on the shipping service provider’s stock.

A number of other analysts have also recently weighed in on FDX. TD Cowen increased their price objective on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Raymond James reduced their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. boosted their target price on FedEx from $366.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.88.

FedEx Trading Down 0.1 %

Shares of FDX stock opened at $275.73 on Friday. The firm has a fifty day moving average of $282.71 and a 200-day moving average of $281.85. The stock has a market cap of $67.37 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter last year, the company earned $3.99 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts forecast that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is currently 34.05%.

Institutional Investors Weigh In On FedEx

Several hedge funds have recently bought and sold shares of FDX. Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in FedEx during the third quarter worth about $31,000. Abound Wealth Management lifted its holdings in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares in the last quarter. Sachetta LLC increased its holdings in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of FedEx during the 3rd quarter valued at about $47,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.