Susquehanna Lowers FedEx (NYSE:FDX) Price Target to $330.00

FedEx (NYSE:FDX) had its price objective trimmed by Susquehanna from $345.00 to $330.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a positive rating on the shipping service provider’s stock.

Several other brokerages have also recently weighed in on FDX. Bank of America dropped their price target on shares of FedEx from $347.00 to $345.00 and set a buy rating for the company in a research report on Wednesday, September 18th. Bernstein Bank raised their price target on FedEx from $305.00 to $337.00 and gave the stock an overweight rating in a research note on Friday. Morgan Stanley downgraded shares of FedEx from an equal weight rating to an underweight rating and reduced their price objective for the company from $215.00 to $200.00 in a research report on Friday. Daiwa America cut shares of FedEx from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. Finally, Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an outperform rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, FedEx has an average rating of Moderate Buy and a consensus price target of $314.74.

FedEx Stock Performance

FedEx stock opened at $258.82 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx has a 1-year low of $224.69 and a 1-year high of $313.84. The firm 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’s 50 day simple moving average is $291.50 and its 200 day simple moving average is $275.28.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the firm earned $4.55 EPS. FedEx’s quarterly revenue was down .5% on a year-over-year basis. As a group, analysts expect that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 2.13%. 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 firm’s stock in a transaction on 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 transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. 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.

Hedge Funds Weigh In On FedEx

Several large investors have recently modified their holdings of FDX. Capital International Investors raised its holdings in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the period. Sentry LLC purchased a new stake in shares of FedEx in the 4th quarter valued at $307,007,000. Vanguard Group Inc. raised its holdings in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares during the period. Putnam Investments LLC raised its holdings in shares of FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. raised its holdings in shares of FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares during the period. 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.