FedEx (NYSE:FDX) Price Target Cut to $275.00 by Analysts at BMO Capital Markets

FedEx (NYSE:FDX) had its price target decreased by BMO Capital Markets from $330.00 to $275.00 in a report released on Friday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the shipping service provider’s stock.

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 target price for the company. Wells Fargo & Company reduced their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. cut their target price on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, UBS Group increased their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $301.60.

FedEx Stock Performance

Shares of NYSE:FDX opened at $230.25 on Friday. FedEx has a 1 year low of $217.22 and a 1 year high of $313.84. The firm has a market capitalization of $55.46 billion, a PE ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business’s 50 day moving average price is $259.95 and its 200-day moving average price is $272.64.

FedEx (NYSE:FDX) last posted its earnings results 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 business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 EPS. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Activity at FedEx

In other news, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Institutional Trading of FedEx

Hedge funds have recently made changes to their positions in the business. bLong Financial LLC bought a new position in FedEx during the 4th quarter worth $391,000. Virtu Financial LLC acquired a new stake in shares of FedEx during the 3rd quarter valued at $3,405,000. Lodestone Wealth Management LLC acquired a new stake in shares of FedEx during the 4th quarter valued at $461,000. Wedmont Private Capital boosted its holdings in shares of FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares in the last quarter. Finally, GFS Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter valued at $26,855,000. 84.47% of the stock is 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.