FedEx (NYSE:FDX) PT Lowered to $303.00 at Stifel Nicolaus
Several other analysts have also commented on the stock. Stephens cut their target price on shares of FedEx from $330.00 to $320.00 and set an overweight rating for the company in a research note on Wednesday, December 20th. Melius Research raised shares of FedEx from a hold rating to a buy rating and set a $310.00 target price for the company in a research note on Monday, January 8th. Barclays increased their target price on shares of FedEx from $310.00 to $350.00 and gave the company an overweight rating in a research note on Friday, March 22nd. BNP Paribas reissued an underperform rating and set a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. Finally, Bank of America cut their price target on shares of FedEx from $346.00 to $340.00 and set a buy rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $301.33.
Read Our Latest Analysis on FedEx
FedEx Trading Up 1.2 %
Shares of NYSE:FDX opened at $278.49 on Wednesday. The company has a 50 day moving average of $252.49 and a 200-day moving average of $253.15. The firm has a market cap of $68.53 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.33 and a beta of 1.21. FedEx has a twelve month low of $213.80 and a twelve month high of $291.27. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.
FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.41 EPS. As a group, analysts anticipate that FedEx will post 17.6 earnings per share for the current fiscal year.
FedEx Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.81%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is 29.07%.
FedEx announced that its board has approved a stock buyback program on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Insiders Place Their Bets
In related news, EVP Mark R. Allen sold 10,145 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the completion of the sale, the executive vice president now directly owns 36,853 shares of the company’s stock, valued at approximately $10,587,129.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Mark R. Allen sold 10,145 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the completion of the sale, the executive vice president now directly owns 36,853 shares of the company’s stock, valued at approximately $10,587,129.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The disclosure for this sale can be found here. Insiders sold 19,393 shares of company stock valued at $5,581,475 over the last ninety days. Corporate insiders own 8.73% of the company’s stock.
Institutional Trading of FedEx
Several large investors have recently modified their holdings of FDX. Duncan Williams Asset Management LLC bought a new stake in FedEx in the 1st quarter valued at $328,000. Strategic Advocates LLC acquired a new position in shares of FedEx in the 1st quarter valued at $293,000. Dentgroup LLC acquired a new position in shares of FedEx in the 1st quarter valued at $213,000. Avondale Wealth Management raised its stake in shares of FedEx by 62.5% in the 1st quarter. Avondale Wealth Management now owns 650 shares of the shipping service provider’s stock valued at $188,000 after buying an additional 250 shares in the last quarter. Finally, Wilsey Asset Management Inc. raised its stake in shares of FedEx by 2.4% in the 1st quarter. Wilsey Asset Management Inc. now owns 92,802 shares of the shipping service provider’s stock valued at $26,888,000 after buying an additional 2,203 shares in the last quarter. 84.47% of the stock is owned by institutional investors.
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.
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