FedEx (NYSE:FDX) Price Target Lowered to $275.00 at BMO Capital Markets

FedEx (NYSE:FDX) had its price target cut by BMO Capital Markets from $330.00 to $275.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a market perform rating on the shipping service provider’s stock.

A number of other brokerages have also weighed in on FDX. Bank of America cut their target price on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research report on Friday. Loop Capital lowered 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. Citigroup dropped their target price on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Truist Financial started coverage on shares of FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.67.

FedEx Stock Performance

NYSE FDX opened at $230.25 on Friday. The firm’s 50 day simple moving average is $259.95 and its 200 day simple moving average is $272.35. The firm has a market capitalization of $55.46 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx has a 1 year low of $217.22 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the firm posted $3.86 EPS. FedEx’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that FedEx will post 19.14 earnings per share for the current fiscal 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 paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Transactions at FedEx

In other news, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Citizens Financial Group Inc. RI grew its holdings in shares of 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 valued at $360,000 after buying an additional 38 shares during the last quarter. Regal Investment Advisors LLC boosted its stake in FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after purchasing an additional 38 shares during the last quarter. Cetera Trust Company N.A increased its holdings in FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing 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 worth $2,916,000 after purchasing an additional 40 shares during the last quarter. Finally, Aviso Financial Inc. lifted its holdings 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 purchasing an additional 40 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

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.