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

FedEx (NYSE:FDX) had its price target reduced by Raymond James from $335.00 to $330.00 in a research note published on Friday, Marketbeat reports. Raymond James currently has a buy rating on the shipping service provider’s stock.

Other equities research analysts have also issued reports about the company. 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 note on Wednesday, September 18th. Stephens reaffirmed an overweight rating and set a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded FedEx from a neutral rating to an overweight rating and increased their price target for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Morgan Stanley cut FedEx from an equal weight rating to an underweight rating and lowered their price target for the stock from $215.00 to $200.00 in a report on Friday. Finally, Oppenheimer reiterated a market perform rating on shares of FedEx in a research report on Wednesday, June 26th. Two investment 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. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $314.74.

FedEx Stock Performance

Shares of NYSE FDX opened at $258.82 on Friday. 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’s 50-day moving average price is $291.50 and its 200-day moving average price is $275.28. FedEx has a 52-week low of $224.69 and a 52-week high of $313.84. The company has a market cap of $63.69 billion, a PE ratio of 15.02, a PEG ratio of 1.03 and a beta of 1.17.

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). The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.55 EPS. As a group, analysts anticipate that FedEx will post 20.82 EPS for the current year.

FedEx Dividend Announcement

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

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated 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 $17,634,640.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the transaction, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FDX. Fortis Group Advisors LLC grew its position in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter valued at about $25,000. Central Valley Advisors LLC purchased a new position in shares of FedEx in the 2nd quarter valued at about $39,000. Security National Bank acquired a new position in FedEx in the 4th quarter worth about $44,000. Finally, Abound Wealth Management boosted its position in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. 84.47% of the stock is currently 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.