FedEx (NYSE:FDX) PT Lowered to $328.00

FedEx (NYSE:FDX) had its price target decreased by TD Cowen from $334.00 to $328.00 in a research report sent to investors on Friday, MarketBeat.com reports. TD Cowen currently has a buy rating on the shipping service provider’s stock.

FDX has been the topic of several other reports. Evercore ISI lowered their target price on FedEx from $339.00 to $335.00 and set an outperform rating on the stock in a research report on Thursday, September 12th. Daiwa America cut FedEx from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. Raymond James cut their price objective on FedEx from $325.00 to $300.00 and set an outperform rating for the company in a research note on Monday, June 24th. StockNews.com cut shares of FedEx from a strong-buy rating to a buy rating in a research note on Saturday, August 24th. Finally, Morgan Stanley lowered shares of FedEx from an equal weight rating to an underweight rating and dropped their price target for the stock from $215.00 to $200.00 in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, FedEx presently has an average rating of Moderate Buy and an average target price of $314.74.

FedEx Stock Performance

FDX stock opened at $258.82 on Friday. The stock’s fifty day moving average price is $291.50 and its 200-day moving average price is $275.28. The company has a market cap of $63.69 billion, a P/E ratio of 15.02, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.13%. FedEx’s payout ratio is 32.04%.

Insider Activity

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 shares were 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 in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 over the last 90 days. 8.73% of the stock is currently owned by corporate insiders.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of FDX. Vanguard Group Inc. boosted its holdings in FedEx by 5.6% during the first 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. Capital International Investors lifted its position in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares in the last quarter. Putnam Investments LLC increased its stake in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares in the last quarter. Mawer Investment Management Ltd. lifted its stake in FedEx by 43.5% in the 1st 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. Finally, Ameriprise Financial Inc. raised its holdings in shares of FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

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.