FedEx (NYSE:FDX) Given New $320.00 Price Target at Robert W. Baird

FedEx (NYSE:FDX) had its price target cut by Robert W. Baird from $340.00 to $320.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the shipping service provider’s stock.

Several other research firms also recently issued reports on FDX. Stifel Nicolaus reaffirmed a buy rating and set a $327.00 price target (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. StockNews.com lowered shares of FedEx from a strong-buy rating to a buy rating in a research report on Saturday, August 24th. Raymond James cut their price objective on FedEx from $325.00 to $300.00 and set an outperform rating for the company in a research report on Monday, June 24th. The Goldman Sachs Group upped their target price on FedEx from $316.00 to $333.00 and gave the company a buy rating in a research note on Wednesday, June 26th. Finally, TD Cowen began coverage on FedEx in a research report on Thursday, August 22nd. They set a buy rating and a $334.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, FedEx currently has a consensus rating of Moderate Buy and an average target price of $315.95.

FedEx Stock Performance

Shares of FDX opened at $254.64 on Friday. The company has a market capitalization of $62.66 billion, a PE ratio of 14.78, a P/E/G 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 50-day simple moving average of $292.43 and a 200-day simple moving average of $275.22. 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 (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). 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 analyst estimates of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 earnings per share. FedEx’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a dividend of $1.38 per share. 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 presently 32.04%.

Insider Buying and Selling at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Robert B. Carter sold 16,010 shares of the 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 in the company, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brie Carere sold 1,958 shares of the company’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 completion of the transaction, 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. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last ninety days. Corporate insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of institutional investors have recently added to or reduced their stakes in the company. Fortis Group Advisors LLC increased its position in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx during the 4th quarter valued at approximately $25,000. Central Valley Advisors LLC purchased a new stake in FedEx during the 2nd quarter worth approximately $39,000. Security National Bank acquired a new position in shares of FedEx in the 4th quarter valued at approximately $44,000. Finally, Abound Wealth Management boosted its stake in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

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.