FedEx (NYSE:FDX) Price Target Lowered to $320.00 at Robert W. Baird

FedEx (NYSE:FDX) had its price objective trimmed by Robert W. Baird from $340.00 to $320.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an outperform rating on the shipping service provider’s stock.

Other equities analysts also recently issued reports about the stock. Stephens restated an overweight rating and set a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. Oppenheimer reissued a market perform rating on shares of FedEx in a research note on Wednesday, June 26th. JPMorgan Chase & Co. raised FedEx from a neutral rating to an overweight rating and upped their target price for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. Evercore ISI cut their target price on shares of FedEx from $339.00 to $335.00 and set an outperform rating for the company in a research note on Thursday, September 12th. Finally, Morgan Stanley lowered FedEx from an equal weight rating to an underweight rating and reduced their price target for the stock from $215.00 to $200.00 in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $314.74.

FedEx Stock Up 1.6 %

Shares of NYSE:FDX opened at $258.82 on Friday. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm’s 50-day simple moving average is $291.50 and its 200-day simple moving average is $275.28. The company has a market cap of $63.69 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly 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 return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the company earned $4.55 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts predict that FedEx will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

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

Insider Buying and Selling at FedEx

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

Institutional Inflows and Outflows

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

FedEx Company Profile

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.