FedEx (NYSE:FDX) Given New $300.00 Price Target at Stephens

FedEx (NYSE:FDX) had its price objective cut by Stephens from $320.00 to $300.00 in a report issued on Friday, Marketbeat Ratings reports. They currently have an overweight rating on the shipping service provider’s stock.

FDX has been the topic of a number of other reports. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Citigroup lowered their price target on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday. Raymond James lowered their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Truist Financial assumed coverage on FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $301.60.

FedEx Stock Down 6.5 %

Shares of NYSE FDX opened at $230.25 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market cap of $55.46 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. FedEx has a 12 month low of $217.22 and a 12 month high of $313.84. The stock has a 50-day moving average price of $259.95 and a two-hundred day moving average price of $272.64.

FedEx (NYSE:FDX) last released its quarterly earnings results 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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the firm posted $3.86 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts forecast that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.40%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insiders Place Their Bets

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, 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 disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI lifted its stake in FedEx by 3.0% during the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares in the last quarter. Regal Investment Advisors LLC raised its stake in shares of FedEx by 2.4% in the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after acquiring an additional 38 shares in the last quarter. Cetera Trust Company N.A raised its stake in shares of FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after acquiring an additional 40 shares in the last quarter. Griffin Asset Management Inc. raised its stake in shares of FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after acquiring an additional 40 shares in the last quarter. Finally, Aviso Financial Inc. raised its stake in shares of FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after acquiring an additional 40 shares in the last quarter. 84.47% of the stock is currently 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.