Raymond James Trims FedEx (NYSE:FDX) Target Price to $330.00

FedEx (NYSE:FDX) had its target price reduced by Raymond James from $335.00 to $330.00 in a research report released on Friday morning, MarketBeat Ratings reports. They currently have a buy rating on the shipping service provider’s stock.

FDX has been the topic of a number of other reports. Bank of America lowered their target price on FedEx from $347.00 to $345.00 and set a buy rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company boosted their target price on shares of FedEx from $275.00 to $300.00 and gave the company an equal weight rating in a research note on Wednesday, June 26th. TD Cowen decreased their price target on shares of FedEx from $334.00 to $328.00 and set a buy rating for the company in a research note on Friday. Stifel Nicolaus reiterated a buy rating and issued a $327.00 price objective (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Finally, Stephens reissued an overweight rating and issued a $325.00 target price on shares of FedEx in a research report on Wednesday, June 26th. Two 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. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $315.95.

FedEx Stock Down 15.2 %

FDX opened at $254.64 on Friday. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The firm has a market capitalization of $62.66 billion, a P/E ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. The company’s 50-day moving average is $292.43 and its 200 day moving average is $275.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last announced its earnings results 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 business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.55 EPS. Research analysts expect that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

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

Insider Buying and Selling

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Robert B. Carter sold 16,010 shares of FedEx 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 completion of the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. Insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SeaCrest Wealth Management LLC lifted its holdings in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares during the last quarter. LRI Investments LLC lifted 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 worth $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC boosted its position 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 valued at $2,306,000 after buying an additional 36 shares during the period. Detalus Advisors LLC grew its stake in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares during the last quarter. Finally, Sachetta LLC increased 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 worth $49,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors 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.