FedEx (NYSE:FDX) Price Target Cut to $331.00 by Analysts at UBS Group

FedEx (NYSE:FDX) had its price objective cut by UBS Group from $350.00 to $331.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the shipping service provider’s stock.

A number of other analysts have also recently issued reports on FDX. Raymond James decreased their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday. Stephens decreased their price target on FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday. Citigroup decreased their price target on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a report on Tuesday. Stifel Nicolaus decreased their price target on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday. Finally, Piper Sandler cut FedEx to a “neutral” rating in a report on Monday, February 3rd. Two investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.60.

FedEx Stock Down 6.5 %

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

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the previous year, the firm posted $3.86 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts forecast that FedEx will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

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

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane purchased 333 shares of the stock in a transaction dated Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. United Bank acquired a new position in FedEx during the third quarter worth about $615,000. Quest Partners LLC acquired a new position in FedEx during the third quarter worth about $123,000. Pathstone Holdings LLC grew its holdings in FedEx by 2.1% during the third quarter. Pathstone Holdings LLC now owns 28,592 shares of the shipping service provider’s stock worth $7,827,000 after acquiring an additional 586 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in FedEx during the third quarter worth about $2,611,000. Finally, PNC Financial Services Group Inc. grew its holdings in FedEx by 0.3% during the third quarter. PNC Financial Services Group Inc. now owns 76,897 shares of the shipping service provider’s stock worth $21,045,000 after acquiring an additional 259 shares during the period. 84.47% of the stock is 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.