The Goldman Sachs Group Trims FedEx (NYSE:FDX) Target Price to $332.00

FedEx (NYSE:FDX) had its price target cut by The Goldman Sachs Group from $333.00 to $332.00 in a research note issued to investors on Friday.

A number of other equities analysts also recently weighed in on FDX. Oppenheimer reaffirmed a market perform rating on shares of FedEx in a research note on Wednesday, June 26th. Bank of America dropped their price objective on shares of FedEx from $347.00 to $345.00 and set a buy rating for the company in a research report on Wednesday, September 18th. Bernstein Bank lifted their target price on FedEx from $305.00 to $337.00 and gave the company an overweight rating in a research note on Friday. Stephens reaffirmed an overweight rating and set a $325.00 price target on shares of FedEx in a research note on Wednesday, June 26th. Finally, Argus raised their price target on FedEx from $325.00 to $335.00 and gave the company a buy rating in a report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $314.74.

FedEx Trading Up 1.6 %

Shares of FDX stock opened at $258.82 on Friday. The company has a market capitalization of $63.69 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $291.50 and a 200 day moving average price of $275.28.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.13%. FedEx’s payout ratio is currently 32.04%.

Insider Activity at FedEx

In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Paul S. Walsh sold 2,535 shares of the business’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 transaction of $747,115.20. Following the transaction, the director now directly owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock valued at $9,882,355. Insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

Large investors have recently modified their holdings of the stock. Scarborough Advisors LLC acquired a new position in FedEx in the 4th quarter valued at about $25,000. Fortis Group Advisors LLC grew its position in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Central Valley Advisors LLC bought a new position in shares of FedEx during the second quarter worth approximately $39,000. Abound Wealth Management lifted its holdings in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Sachetta LLC boosted its stake in FedEx by 29.1% in 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 period. 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.