BMO Capital Markets Lowers FedEx (NYSE:FDX) Price Target to $275.00

FedEx (NYSE:FDX - Free Report) had its price objective cut by BMO Capital Markets from $330.00 to $275.00 in a report published on Friday,Benzinga reports. They currently have a market perform rating on the shipping service provider's stock.

FDX has been the topic of several other reports. JPMorgan Chase & Co. lowered their price objective on FedEx from $372.00 to $323.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Stephens dropped their price target on FedEx from $350.00 to $345.00 and set an "overweight" rating for the company in a research note on Friday, December 20th. UBS Group lifted their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 target price for the company. Finally, Citigroup reduced their price target on shares of FedEx from $347.00 to $317.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $300.60.

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FedEx Stock Performance

Shares of NYSE FDX traded down $1.13 during trading on Friday, hitting $241.19. The company had a trading volume of 2,668,902 shares, compared to its average volume of 1,686,039. The stock has a 50 day simple moving average of $258.58 and a 200 day simple moving average of $271.75. The firm has a market capitalization of $58.09 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx has a 12 month low of $217.22 and a 12 month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.86 EPS. As a group, analysts anticipate that FedEx will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company 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 dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. FedEx's dividend payout ratio (DPR) is presently 34.63%.

Insider Buying and Selling at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy B. Lane purchased 333 shares of the business's stock in a transaction on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock worth $5,682,727,000 after acquiring an additional 56,236 shares during the last quarter. Dodge & Cox raised its stake in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of FedEx by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the period. Franklin Resources Inc. boosted its position in FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after buying an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after buying an additional 127,044 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.