FedEx (NYSE:FDX) Price Target Cut to $288.00

FedEx (NYSE:FDX) had its price target decreased by Loop Capital from $317.00 to $288.00 in a report published on Monday, Benzinga reports. Loop Capital currently has a hold rating on the shipping service provider’s stock.

Other equities analysts have also recently issued research reports about the company. Bank of America dropped their price objective on FedEx from $347.00 to $345.00 and set a buy rating for the company in a report on Wednesday, September 18th. UBS Group lowered their target price on shares of FedEx from $333.00 to $311.00 and set a buy rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their price target on shares of FedEx from $359.00 to $350.00 and set an overweight rating on the stock in a research note on Friday, September 20th. TD Cowen lowered their price objective on shares of FedEx from $334.00 to $328.00 and set a buy rating for the company in a research report on Friday, September 20th. Finally, HSBC lowered shares of FedEx from a buy rating to a hold rating and set a $300.00 target price on the stock. in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of Moderate Buy and an average target price of $314.74.

FedEx Trading Up 1.0 %

FDX stock opened at $266.30 on Monday. The firm’s fifty day simple moving average is $289.65 and its two-hundred day simple moving average is $275.34. The stock has a market capitalization of $65.06 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted 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). The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $4.55 earnings per share. As a group, analysts anticipate that FedEx will post 19.66 earnings per share for the current 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 annualized dividend and a yield of 2.07%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Insiders Place Their Bets

In related news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were 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 directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,399 shares of company stock valued at $4,420,615. 8.73% of the stock is currently owned by corporate insiders.

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently bought and sold shares of FDX. Fortis Group Advisors LLC lifted 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 purchasing an additional 50 shares during the period. Scarborough Advisors LLC acquired a new position in shares of FedEx in the 4th quarter valued at about $25,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx in the second quarter worth about $39,000. Security National Bank acquired a new stake in FedEx during the fourth quarter worth about $44,000. Finally, Abound Wealth Management raised 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 valued at $45,000 after acquiring an additional 95 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.