FedEx (NYSE:FDX) had its price target cut by Robert W. Baird from $180.00 to $175.00 in a research report released on Wednesday, AnalystRatings.com reports. They currently have an outperform rating on the shipping service provider’s stock.
A number of other brokerages have also recently weighed in on FDX. Deutsche Bank cut FedEx from a buy rating to a hold rating and reduced their price objective for the company from $178.00 to $142.00 in a research note on Tuesday. ValuEngine lowered FedEx from a hold rating to a sell rating in a report on Thursday, August 1st. Barclays reissued a buy rating and issued a $185.00 target price on shares of FedEx in a report on Thursday, June 13th. Raymond James dropped their target price on FedEx from $190.00 to $175.00 and set an outperform rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on FedEx from $168.00 to $146.00 and set a neutral rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $175.56.
Shares of NYSE FDX opened at $148.78 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.39 and a debt-to-equity ratio of 1.70. FedEx has a twelve month low of $147.82 and a twelve month high of $250.95. The stock has a 50 day moving average of $160.17 and a two-hundred day moving average of $170.42. The stock has a market cap of $39.37 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.81 and a beta of 1.69.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.12). FedEx had a net margin of 0.65% and a return on equity of 21.15%. The firm had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the firm posted $3.46 EPS. FedEx’s quarterly revenue was up .0% compared to the same quarter last year. As a group, research analysts predict that FedEx will post 12.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, September 6th. FedEx’s dividend payout ratio is presently 16.75%.
In related news, EVP Robert B. Carter sold 23,100 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the transaction, the executive vice president now owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul S. Walsh sold 4,440 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the transaction, the director now directly owns 16,440 shares in the company, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. Corporate insiders own 8.44% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FDX. Associated Banc Corp grew its holdings in FedEx by 3.7% in the first quarter. Associated Banc Corp now owns 1,644 shares of the shipping service provider’s stock valued at $298,000 after purchasing an additional 59 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in FedEx by 4.0% in the second quarter. Zions Bancorporation N.A. now owns 1,661 shares of the shipping service provider’s stock valued at $273,000 after purchasing an additional 64 shares during the last quarter. Alpha Windward LLC grew its holdings in FedEx by 7.5% in the second quarter. Alpha Windward LLC now owns 977 shares of the shipping service provider’s stock valued at $169,000 after purchasing an additional 68 shares during the last quarter. FinTrust Capital Advisors LLC grew its holdings in FedEx by 2.6% in the second quarter. FinTrust Capital Advisors LLC now owns 2,780 shares of the shipping service provider’s stock valued at $457,000 after purchasing an additional 70 shares during the last quarter. Finally, Quadrant Private Wealth Management LLC grew its holdings in FedEx by 2.7% in the second quarter. Quadrant Private Wealth Management LLC now owns 2,701 shares of the shipping service provider’s stock valued at $443,000 after purchasing an additional 72 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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