Raymond James Lowers FedEx (NYSE:FDX) Price Target to $290.00

FedEx (NYSE:FDX) had its price objective lowered by Raymond James from $320.00 to $290.00 in a report published on Friday,Benzinga reports. The firm currently has an outperform rating on the shipping service provider’s stock.

FDX has been the subject of a number of other research reports. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Citigroup cut their price objective 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 research report on Friday, December 20th. BMO Capital Markets lifted their price target on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, TD Cowen dropped their price target on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $301.67.

FedEx Trading Down 6.5 %

Shares of FDX stock opened at $230.25 on Friday. FedEx has a 52-week low of $217.22 and a 52-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 firm has a market capitalization of $55.46 billion, a PE ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. The stock has a fifty day simple moving average of $259.95 and a two-hundred day simple moving average of $272.35.

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 analysts’ consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.86 EPS. On average, analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 2.40%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Activity

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

Hedge Funds Weigh In On FedEx

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after buying an additional 56,236 shares in the last quarter. Dodge & Cox raised its stake in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after buying an additional 734,268 shares in the last quarter. Geode Capital Management LLC raised its stake in FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after buying an additional 109,006 shares in the last quarter. Franklin Resources Inc. raised its stake in FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after buying an additional 323,115 shares in the last quarter. Finally, Invesco Ltd. raised its stake in FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock worth $906,165,000 after buying an additional 127,044 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

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.