FedEx (NYSE:FDX) Price Target Lowered to $318.00 at Evercore ISI

FedEx (NYSE:FDX) had its price target cut by Evercore ISI from $335.00 to $318.00 in a report issued on Friday, Benzinga reports. They currently have an outperform rating on the shipping service provider’s stock.

Several other equities research analysts have also commented on FDX. Bank of America dropped their price objective on shares of FedEx from $347.00 to $345.00 and set a buy rating on the stock in a research note on Wednesday, September 18th. Robert W. Baird lowered their target price on shares of FedEx from $340.00 to $320.00 and set an outperform rating on the stock in a research note on Friday. Argus lifted their price objective on FedEx from $325.00 to $335.00 and gave the stock a buy rating in a report on Thursday, June 27th. Morgan Stanley lowered shares of FedEx from an equal weight rating to an underweight rating and cut their target price for the company from $215.00 to $200.00 in a research report on Friday. Finally, The Goldman Sachs Group lifted their price target on shares of FedEx from $316.00 to $333.00 and gave the stock a buy rating in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $315.95.

FedEx Stock Down 15.2 %

FDX stock opened at $254.64 on Friday. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The business’s 50 day moving average price is $292.43 and its two-hundred day moving average price is $275.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the company posted $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts forecast that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Insider Transactions at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SeaCrest Wealth Management LLC lifted its holdings in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after acquiring an additional 34 shares during the last quarter. LRI Investments LLC raised its position in FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC raised its position in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC boosted its holdings in shares of FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC increased its position in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other 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.