FedEx (NYSE:FDX) Price Target Cut to $331.00 by Analysts at UBS Group

FedEx (NYSE:FDX) had its price objective lowered by UBS Group from $350.00 to $331.00 in a research note released on Friday,Benzinga reports. UBS Group currently has a buy rating on the shipping service provider’s stock.

A number of other brokerages have also commented on FDX. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Stifel Nicolaus decreased their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday. Loop Capital lowered FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $283.00 to $221.00 in a research report on Friday. TD Cowen decreased their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday. Finally, Citigroup decreased 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $301.60.

FedEx Trading Down 6.5 %

NYSE:FDX opened at $230.25 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 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. The firm has a market capitalization of $55.46 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The stock has a fifty day simple moving average of $259.95 and a 200 day simple moving average of $272.64.

FedEx (NYSE:FDX) last released its quarterly earnings results 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter last year, the business earned $3.86 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts forecast that FedEx will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

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

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction on 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 transaction, 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 legal filing with the SEC, which is accessible through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % 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 Trading of FedEx

Several institutional investors have recently modified their holdings of the company. 111 Capital acquired a new stake in shares of FedEx during the 4th quarter worth approximately $508,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of FedEx by 69.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,477 shares of the shipping service provider’s stock worth $21,515,000 after purchasing an additional 31,376 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of FedEx by 2.6% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 19,524 shares of the shipping service provider’s stock worth $5,493,000 after purchasing an additional 491 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of FedEx during the 4th quarter worth approximately $44,690,000. Finally, Northstar Financial Companies Inc. acquired a new stake in shares of FedEx during the 4th quarter worth approximately $393,000. Institutional investors and hedge funds 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.