Stifel Nicolaus Cuts FedEx (NYSE:FDX) Price Target to $321.00

FedEx (NYSE:FDX) had its price target lowered by Stifel Nicolaus from $327.00 to $321.00 in a research note released on Friday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the shipping service provider’s stock.

A number of other equities research analysts have also commented on FDX. Daiwa America lowered FedEx from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. Morgan Stanley lowered shares of FedEx from an equal weight rating to an underweight rating and lowered their price target for the company from $215.00 to $200.00 in a report on Friday. Wells Fargo & Company boosted their price objective on FedEx from $275.00 to $300.00 and gave the company an equal weight rating in a report on Wednesday, June 26th. Robert W. Baird dropped their target price on FedEx from $340.00 to $320.00 and set an outperform rating on the stock in a report on Friday. Finally, Evercore ISI decreased their price target on FedEx from $335.00 to $318.00 and set an outperform rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has a consensus rating of Moderate Buy and a consensus target price of $314.74.

FedEx Stock Up 1.6 %

FDX stock 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. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84. The stock has a market capitalization of $63.69 billion, a PE ratio of 15.02, a price-to-earnings-growth 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 (NYSE:FDX) last announced its quarterly earnings data 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 company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the firm earned $4.55 earnings per share. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts forecast that FedEx will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The business 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. This represents a $5.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Insider Activity at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The shares were 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 in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The shares were 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 in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 completion of the sale, 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. In the last three months, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by corporate insiders.

Institutional Trading of FedEx

Hedge funds have recently bought and sold shares of the business. SeaCrest Wealth Management LLC boosted its holdings in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares in the last quarter. LRI Investments LLC boosted its holdings in FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after buying an additional 36 shares in the last quarter. Ascent Wealth Partners LLC boosted its holdings in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after buying an additional 36 shares in the last quarter. Detalus Advisors LLC lifted its holdings in shares of FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC lifted its holdings in shares of FedEx by 29.1% in 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. Institutional investors and hedge funds 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.