Raymond James Trims FedEx (NYSE:FDX) Target Price to $300.00

FedEx (NYSE:FDXFree Report) had its price target decreased by Raymond James from $325.00 to $300.00 in a research report released on Monday morning, Benzinga reports. Raymond James currently has an outperform rating on the shipping service provider’s stock.

Other equities analysts have also issued research reports about the stock. BNP Paribas reaffirmed an underperform rating and set a $250.00 price objective on shares of FedEx in a research report on Wednesday, March 27th. Robert W. Baird raised their price objective on shares of FedEx from $315.00 to $325.00 and gave the stock an outperform rating in a research note on Friday, March 22nd. Oppenheimer reiterated a market perform rating on shares of FedEx in a research note on Friday, March 22nd. JPMorgan Chase & Co. cut their price objective on FedEx from $301.00 to $296.00 and set a neutral rating for the company in a report on Friday, May 24th. Finally, Barclays lifted their price objective on FedEx from $310.00 to $350.00 and gave the company an overweight rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, FedEx currently has a consensus rating of Moderate Buy and a consensus target price of $314.00.

Check Out Our Latest Stock Report on FDX

FedEx Stock Performance

Shares of FDX opened at $295.47 on Monday. FedEx has a one year low of $224.69 and a one year high of $296.86. The company has a 50-day moving average of $256.80 and a two-hundred day moving average of $256.00. The stock has a market cap of $72.71 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 0.93 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26.

FedEx (NYSE:FDXGet Free Report) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.86%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $4.94 earnings per share. On average, equities research analysts expect that FedEx will post 20.26 earnings per share for the current year.

FedEx declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a dividend of $1.38 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s payout ratio is presently 32.04%.

Insider Activity at FedEx

In related news, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total value of $368,668.00. Following the completion of the transaction, the chief executive officer now directly owns 84,614 shares in the company, valued at approximately $23,542,999.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total value of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. In the last three months, insiders sold 117,275 shares of company stock worth $32,177,298. 8.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

A number of large investors have recently added to or reduced their stakes in the business. Lazari Capital Management Inc. bought a new stake in FedEx in the 1st quarter valued at $202,000. Keynote Financial Services LLC acquired a new stake in shares of FedEx during the 1st quarter worth $288,000. EverSource Wealth Advisors LLC boosted its stake in FedEx by 0.4% in the first quarter. EverSource Wealth Advisors LLC now owns 12,496 shares of the shipping service provider’s stock valued at $3,621,000 after buying an additional 45 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in FedEx by 45.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 148,573 shares of the shipping service provider’s stock valued at $42,610,000 after buying an additional 46,244 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in FedEx in the first quarter valued at about $89,000. Institutional investors own 84.47% of the company’s stock.

About FedEx

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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.

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Analyst Recommendations for FedEx (NYSE:FDX)

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