FedEx (NYSE:FDX) PT Lowered to $311.00 at UBS Group

FedEx (NYSE:FDX) had its price objective trimmed by UBS Group from $333.00 to $311.00 in a report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the shipping service provider’s stock.

Other research analysts have also recently issued reports about the company. TD Cowen decreased their price objective on FedEx from $334.00 to $328.00 and set a buy rating on the stock in a report on Friday. Robert W. Baird decreased their price target on FedEx from $340.00 to $320.00 and set an outperform rating on the stock in a research note on Friday. Daiwa America downgraded FedEx from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. Wells Fargo & Company upped their target price on shares of FedEx from $275.00 to $300.00 and gave the company an equal weight rating in a research report on Wednesday, June 26th. Finally, Raymond James dropped their price target on shares of FedEx from $335.00 to $330.00 and set a buy rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $315.95.

FedEx Stock Performance

NYSE FDX opened at $254.64 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The stock’s fifty day moving average is $292.43 and its two-hundred day moving average is $275.22. The firm has a market capitalization of $62.66 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the company posted $4.55 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts anticipate that FedEx will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Insider Activity at FedEx

In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the transaction, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last 90 days. 8.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC boosted its holdings in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after buying an additional 34 shares in the last quarter. LRI Investments LLC boosted its stake in FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after acquiring an additional 36 shares in the last quarter. Ascent Wealth Partners LLC grew its holdings in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC increased its position in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC boosted its position in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. 84.47% of the stock is currently 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.