FedEx (NYSE:FDX) PT Lowered to $300.00 at BMO Capital Markets

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

FDX has been the topic of a number of other research reports. Raymond James cut their price objective on shares of FedEx from $335.00 to $330.00 and set a buy rating on the stock in a research note on Friday. Bank of America cut their price objective on shares of FedEx from $347.00 to $345.00 and set a buy rating on the stock in a research note on Wednesday, September 18th. Stephens reiterated an overweight rating and issued a $350.00 price objective on shares of FedEx in a research note on Friday. Wells Fargo & Company raised their price target on shares of FedEx from $275.00 to $300.00 and gave the company an equal weight rating in a research report on Wednesday, June 26th. Finally, UBS Group dropped their price target on shares of FedEx from $333.00 to $311.00 and set a buy rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $315.95.

FedEx Trading Down 15.2 %

NYSE FDX opened at $254.64 on Friday. The company has a fifty day simple moving average of $292.43 and a two-hundred day simple moving average of $275.22. The stock has a market cap of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx has a 12-month low of $224.69 and a 12-month 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 posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $4.55 EPS. On average, 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 $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Insider Transactions at FedEx

In other news, 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 value 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 this link. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated 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 $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 valued at $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of institutional investors have recently bought and sold shares of FDX. Precision Wealth Strategies LLC purchased a new position in FedEx during the fourth quarter worth about $324,000. Quest Partners LLC purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $267,000. Franklin Resources Inc. raised its stake in shares of FedEx by 38.6% in the 4th quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock valued at $38,934,000 after acquiring an additional 42,844 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of FedEx by 3.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock valued at $15,283,000 after acquiring an additional 2,051 shares during the period. Finally, US Bancorp DE raised its stake in shares of FedEx by 3.6% in the 4th quarter. US Bancorp DE now owns 113,778 shares of the shipping service provider’s stock valued at $28,782,000 after acquiring an additional 3,955 shares during the period. 84.47% of the stock is owned by hedge funds and other 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.