FedEx (NYSE:FDX) Given New $350.00 Price Target at Barclays

FedEx (NYSE:FDX) had its target price decreased by Barclays from $365.00 to $350.00 in a report issued on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the shipping service provider’s stock.

FDX has been the subject of several other research reports. Stifel Nicolaus lowered their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price objective for the company. Citigroup reduced their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $283.00 to $221.00 in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.67.

FedEx Stock Down 6.5 %

FedEx stock opened at $230.25 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx has a 52-week low of $217.22 and a 52-week high of $313.84. The firm has a 50 day moving average price of $259.95 and a two-hundred day moving average price of $272.35. The firm 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 (NYSE:FDX) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) 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 in the previous year, the business posted $3.86 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that FedEx will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction 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 sale, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy B. Lane bought 333 shares of the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently made changes to their positions in the business. Citizens Financial Group Inc. RI raised its stake in shares of FedEx by 3.0% during the 3rd 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 during the period. Regal Investment Advisors LLC raised its stake in FedEx by 2.4% in the 4th 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 during the period. Cetera Trust Company N.A raised its stake in FedEx by 0.5% in the 4th 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 during the period. Griffin Asset Management Inc. raised its stake in FedEx by 0.4% in the 4th 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 during the period. Finally, Aviso Financial Inc. raised its stake in FedEx by 1.2% in the 4th 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 during the period. 84.47% of the stock is currently owned by 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.