FedEx (NYSE:FDX) PT Lowered to $345.00 at Bank of America

FedEx (NYSE:FDX) had its price objective decreased by Bank of America from $347.00 to $345.00 in a report issued on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the shipping service provider’s stock.

Several other equities analysts also recently issued reports on the stock. Stephens restated an overweight rating and set a $325.00 price objective on shares of FedEx in a report on Wednesday, June 26th. Argus raised their price target on shares of FedEx from $325.00 to $335.00 and gave the stock a buy rating in a report on Thursday, June 27th. The Goldman Sachs Group boosted their price objective on shares of FedEx from $316.00 to $333.00 and gave the company a buy rating in a report on Wednesday, June 26th. Morgan Stanley raised their target price on FedEx from $210.00 to $215.00 and gave the stock an equal weight rating in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. upgraded FedEx from a neutral rating to an overweight rating and boosted their price target for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $312.84.

FedEx Trading Down 15.2 %

NYSE:FDX opened at $254.63 on Wednesday. The stock has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, 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 quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $292.43 and a 200 day moving average of $274.85.

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 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 analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the company posted $4.55 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. FedEx’s dividend payout ratio is presently 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 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 sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on 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 of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the business’s 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 sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On FedEx

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its holdings in FedEx by 20.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after purchasing an additional 5,055 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of FedEx in the first quarter worth about $1,667,000. Allegheny Financial Group LTD purchased a new stake in FedEx during the 1st quarter valued at about $203,000. Hilltop National Bank acquired a new stake in FedEx in the 1st quarter valued at about $476,000. Finally, Csenge Advisory Group lifted its stake in FedEx by 14.9% in the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after purchasing an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.