FedEx (NYSE:FDX) Price Target Cut to $350.00 by Analysts at Barclays

FedEx (NYSE:FDX) had its target price trimmed by Barclays from $365.00 to $350.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the shipping service provider’s stock.

Other equities analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. UBS Group lowered their target price on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday. Piper Sandler cut shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, Raymond James lowered their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.60.

FedEx Stock Down 6.5 %

NYSE:FDX opened at $230.25 on Friday. The company 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 firm’s 50-day moving average price is $259.95 and its 200-day moving average price is $272.64. FedEx has a 1-year low of $217.22 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last announced its quarterly 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). The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.86 EPS. On average, equities analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

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

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired 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 $91,927.98. This represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Citizens Financial Group Inc. RI grew its holdings in shares of FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares in the last quarter. Regal Investment Advisors LLC grew its holdings in shares of FedEx by 2.4% in the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after purchasing an additional 38 shares in the last quarter. Cetera Trust Company N.A grew its holdings in shares of FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after purchasing an additional 40 shares in the last quarter. Griffin Asset Management Inc. lifted its position in FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after buying an additional 40 shares during the last quarter. Finally, Aviso Financial Inc. lifted its position in FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after buying an additional 40 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other 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.