BMO Capital Markets Lowers FedEx (NYSE:FDX) Price Target to $300.00

FedEx (NYSE:FDX) had its target price trimmed by BMO Capital Markets from $325.00 to $300.00 in a research note released on Friday, Benzinga reports. The firm currently has a market perform rating on the shipping service provider’s stock.

Several other research firms also recently issued reports on FDX. Robert W. Baird dropped their price objective on FedEx from $340.00 to $320.00 and set an outperform rating on the stock in a report on Friday. Bernstein Bank lifted their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an overweight rating in a research note on Friday. UBS Group decreased their price objective on shares of FedEx from $333.00 to $311.00 and set a buy rating for the company in a report on Friday. Evercore ISI dropped their target price on shares of FedEx from $335.00 to $318.00 and set an outperform rating for the company in a research report on Friday. Finally, Argus increased their price target on shares of FedEx from $325.00 to $335.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $314.74.

FedEx Trading Up 1.6 %

NYSE FDX opened at $258.82 on Friday. The company’s fifty day simple moving average is $291.50 and its 200-day simple moving average is $275.28. The stock has a market cap of $63.69 billion, a P/E ratio of 15.02, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.13%. FedEx’s dividend payout ratio is presently 32.04%.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 in the last ninety days. Company insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Capital International Investors lifted its position in FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Sentry LLC acquired a new position in shares of FedEx during the 4th quarter valued at $307,007,000. Vanguard Group Inc. raised its stake in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Putnam Investments LLC lifted its holdings in shares of FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. boosted its stake in FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares in the last quarter. 84.47% of the stock is currently owned by 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.