FedEx (NYSE:FDX) Price Target Cut to $364.00 by Analysts 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 brokerages have also commented on FDX. Citigroup raised their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Stephens reduced their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Barclays upped their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, TD Cowen increased their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $325.43.

FedEx Trading Down 0.3 %

Shares of FDX opened at $269.75 on Thursday. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. 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 $282.52 and its 200-day moving average price is $283.52. The firm has a market capitalization of $64.97 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.14 and a beta of 1.20.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.99 EPS. Sell-side analysts anticipate that FedEx will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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

Insider Activity

In other FedEx news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $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. Insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

Large investors have recently made changes to their positions in the company. Clear Creek Financial Management LLC grew its holdings in shares of 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 purchasing an additional 191 shares in the last quarter. GFS Advisors LLC purchased a new position in shares of FedEx in the 4th quarter worth $26,855,000. Caprock Group LLC increased its holdings in shares of FedEx by 19.1% in the 4th quarter. Caprock Group LLC now owns 10,222 shares of the shipping service provider’s stock worth $2,889,000 after buying an additional 1,636 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter valued at about $32,000. Finally, Institute for Wealth Management LLC. lifted its holdings in shares of FedEx by 0.9% in the 4th quarter. Institute for Wealth Management LLC. now owns 11,069 shares of the shipping service provider’s stock valued at $3,114,000 after acquiring an additional 96 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

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.