FedEx (NYSE:FDX) PT Lowered to $318.00 at Evercore ISI

FedEx (NYSE:FDX) had its price objective reduced by Evercore ISI from $335.00 to $318.00 in a research note released on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the shipping service provider’s stock.

FDX has been the topic of a number of other research reports. StockNews.com cut FedEx from a strong-buy rating to a buy rating in a research report on Saturday, August 24th. Daiwa America lowered shares of FedEx from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. Robert W. Baird reduced their target price on shares of FedEx from $340.00 to $320.00 and set an outperform rating for the company in a research note on Friday. Oppenheimer restated a market perform rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, Raymond James lowered their target price on shares of FedEx from $325.00 to $300.00 and set an outperform rating on the stock in a report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx presently has a consensus rating of Moderate Buy and an average target price of $315.95.

FedEx Trading Down 15.2 %

Shares of FedEx stock opened at $254.64 on Friday. The stock has a fifty day moving average price of $292.43 and a 200-day moving average price of $275.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm has a market cap of $62.66 billion, a PE ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share 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 company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the previous year, the firm earned $4.55 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that FedEx will post 20.82 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a $1.38 dividend. 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 payout ratio is currently 32.04%.

Insider Activity

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Paul S. Walsh sold 2,535 shares of the business’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 completion of the sale, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Fortis Group Advisors LLC boosted its position in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $25,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the second quarter worth about $39,000. Security National Bank purchased a new position in FedEx during the 4th quarter valued at about $44,000. Finally, Abound Wealth Management raised its position in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

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.