FedEx (NYSE:FDX) PT Lowered to $330.00 at Susquehanna

FedEx (NYSE:FDX) had its target price reduced by Susquehanna from $345.00 to $330.00 in a research note published on Friday morning, Benzinga reports. They currently have a positive rating on the shipping service provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Bernstein Bank increased their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an overweight rating in a research report on Friday. Bank of America reduced their price objective on FedEx from $347.00 to $345.00 and set a buy rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their target price on FedEx from $359.00 to $350.00 and set an overweight rating on the stock in a research report on Friday. Oppenheimer reiterated a market perform rating on shares of FedEx in a report on Wednesday, June 26th. Finally, Raymond James dropped their price objective on FedEx from $335.00 to $330.00 and set a buy rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $315.95.

FedEx Stock Performance

Shares of FedEx stock opened at $254.64 on Friday. FedEx has a 12 month low of $224.69 and a 12 month 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 stock has a market cap of $62.66 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The business has a fifty day simple moving average of $292.43 and a 200-day simple moving average of $275.22.

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

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Transactions at FedEx

In related news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 over the last three months. 8.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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