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 report released on Friday,Benzinga reports. They currently have a market perform rating on the shipping service provider’s stock.

FDX has been the subject of several other reports. Citigroup reduced their target price on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a report on Tuesday. Stephens dropped their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Bank of America dropped their target price on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research report on Friday. Raymond James decreased their price target on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday. Finally, TD Cowen decreased their price target on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $301.60.

FedEx Stock Performance

Shares of FedEx stock opened at $230.25 on Friday. FedEx has a one year low of $217.22 and a one year high of $313.84. The firm has a market capitalization of $55.46 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. The business has a 50-day simple moving average of $259.95 and a 200 day simple moving average of $272.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last issued its 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). The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.86 earnings per share. On average, research analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

Insider Transactions at FedEx

In related news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were purchased 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 $91,927.98. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

Hedge funds have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its stake in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the last quarter. Transce3nd LLC bought a new position in FedEx in the 4th quarter worth $26,000. Peoples Financial Services CORP. bought a new position in FedEx in the 4th quarter worth $28,000. City Holding Co. bought a new position in FedEx in the 4th quarter worth $28,000. Finally, Kentucky Trust Co bought a new position in shares of FedEx during the 4th quarter valued at about $28,000. 84.47% of the stock is currently owned by hedge funds and other 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.