Citigroup Cuts FedEx (NYSE:FDX) Price Target to $317.00

FedEx (NYSE:FDX) had its price objective trimmed by Citigroup from $347.00 to $317.00 in a report published on Tuesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the shipping service provider’s stock.

Several other brokerages have also weighed in on FDX. Truist Financial initiated coverage on FedEx in a research report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective for the company. UBS Group increased their price objective on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Bank of America raised their price target on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $317.48.

FedEx Trading Down 0.5 %

Shares of FedEx stock opened at $246.00 on Tuesday. The firm has a market capitalization of $59.25 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.11 and a beta of 1.23. FedEx has a fifty-two week low of $239.50 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a 50 day moving average of $260.76 and a 200 day moving average of $273.11.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.86 earnings per share. As a group, research analysts predict that FedEx will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Fortitude Family Office LLC lifted its holdings in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Transce3nd LLC purchased a new stake in shares of FedEx in the 4th quarter valued at about $26,000. Peoples Financial Services CORP. purchased a new stake in shares of FedEx in the 4th quarter valued at about $28,000. City Holding Co. purchased a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co purchased a new stake in shares of FedEx in the 4th quarter valued at about $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.