FedEx (NYSE:FDX) Price Target Lowered to $288.00 at Loop Capital

FedEx (NYSE:FDX) had its price objective reduced by Loop Capital from $317.00 to $288.00 in a research note released on Monday morning, Benzinga reports. They currently have a hold rating on the shipping service provider’s stock.

Other analysts have also issued research reports about the stock. Stephens reiterated an overweight rating and set a $350.00 target price on shares of FedEx in a research note on Friday. Daiwa America lowered shares of FedEx from a moderate buy rating to a hold rating in a research note on Wednesday, September 11th. The Goldman Sachs Group lowered their target price on shares of FedEx from $333.00 to $332.00 in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of FedEx from $359.00 to $350.00 and set an overweight rating for the company in a research note on Friday. Finally, Argus boosted their target price on shares of FedEx from $325.00 to $335.00 and gave the company a buy rating in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of Moderate Buy and an average target price of $314.74.

FedEx Stock Up 1.6 %

Shares of NYSE:FDX opened at $258.82 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $291.50 and a 200 day simple moving average of $275.28. The firm has a market cap 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. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84.

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

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.13%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Insider Buying and Selling

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated 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 $17,634,640.32. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 over the last 90 days. 8.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. raised its holdings in FedEx by 93.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 5,741 shares of the shipping service provider’s stock worth $1,721,000 after buying an additional 2,777 shares during the period. Sanctuary Advisors LLC acquired a new stake in FedEx during the 2nd quarter worth about $10,018,000. Clearbridge Investments LLC raised its holdings in FedEx by 63.9% during the 2nd quarter. Clearbridge Investments LLC now owns 7,917 shares of the shipping service provider’s stock worth $2,374,000 after buying an additional 3,087 shares during the period. New Century Financial Group LLC raised its holdings in FedEx by 148.7% during the 2nd quarter. New Century Financial Group LLC now owns 5,293 shares of the shipping service provider’s stock worth $1,587,000 after buying an additional 3,165 shares during the period. Finally, Ariadne Wealth Management LP acquired a new stake in FedEx during the 2nd quarter worth about $103,000. 84.47% of the stock is owned by institutional investors and hedge funds.

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.