FedEx (NYSE:FDX) PT Lowered to $332.00 at The Goldman Sachs Group

FedEx (NYSE:FDX) had its target price lowered by The Goldman Sachs Group from $333.00 to $332.00 in a research note published on Friday morning.

A number of other research analysts have also recently commented on FDX. Wells Fargo & Company increased their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an equal weight rating in a report on Wednesday, June 26th. Evercore ISI cut their target price on shares of FedEx from $335.00 to $318.00 and set an outperform rating on the stock in a research report on Friday. StockNews.com downgraded shares of FedEx from a strong-buy rating to a buy rating in a report on Saturday, August 24th. Raymond James cut their price objective on FedEx from $335.00 to $330.00 and set a buy rating on the stock in a report on Friday. Finally, Stifel Nicolaus restated a buy rating and set a $327.00 price target (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Two research 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 company presently has a consensus rating of Moderate Buy and an average price target of $314.74.

FedEx Price Performance

Shares of NYSE:FDX opened at $258.82 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $63.69 billion, a PE ratio of 15.02, a PEG ratio of 1.03 and a beta of 1.17. The firm has a 50 day moving average of $291.50 and a 200-day moving average of $275.28. FedEx has a 12 month low of $224.69 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last issued 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 business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the business posted $4.55 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts predict that FedEx will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

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

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on 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 directly 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 available at the SEC website. Also, EVP Brie Carere sold 1,958 shares of the 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 owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital International Investors lifted its stake 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 valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Sentry LLC purchased a new stake in FedEx in the fourth quarter worth $307,007,000. Vanguard Group Inc. increased its holdings in 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 acquiring an additional 1,056,061 shares during the last quarter. Putnam Investments LLC raised its stake in FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. boosted its position 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 worth $654,401,000 after purchasing an additional 684,679 shares during the period. 84.47% of the stock is 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.