FedEx (NYSE:FDX) Price Target Lowered to $290.00 at Raymond James

FedEx (NYSE:FDX) had its price target trimmed by Raymond James from $320.00 to $290.00 in a report published on Friday,Benzinga reports. The brokerage currently has an outperform rating on the shipping service provider’s stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. BMO Capital Markets upped their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Stephens dropped their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Finally, UBS Group upped their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average price target of $301.60.

FedEx Price Performance

Shares of NYSE FDX opened at $230.25 on Friday. FedEx has a twelve month low of $217.22 and a twelve month 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 company has a market capitalization of $55.46 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. The firm has a 50-day moving average of $259.95 and a two-hundred day moving average of $272.64.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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 net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the prior year, the company posted $3.86 earnings per share. FedEx’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Amy B. Lane bought 333 shares of the stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Norges Bank acquired a new stake in FedEx in the fourth quarter worth about $807,352,000. Raymond James Financial Inc. bought a new position in FedEx during the fourth quarter worth about $234,028,000. Dodge & Cox boosted its holdings in FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after buying an additional 734,268 shares during the last quarter. Capital Research Global Investors bought a new position in FedEx during the fourth quarter worth about $145,733,000. Finally, ACR Alpine Capital Research LLC boosted its holdings in FedEx by 62.9% during the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after buying an additional 329,170 shares during the last quarter. 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.