Wells Fargo & Company Cuts FedEx (NYSE:FDX) Price Target to $260.00

FedEx (NYSE:FDX - Free Report) had its price objective reduced by Wells Fargo & Company from $275.00 to $260.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the shipping service provider's stock.

A number of other analysts have also weighed in on FDX. Stephens decreased their target price on shares of FedEx from $350.00 to $345.00 and set an "overweight" rating on the stock in a report on Friday, December 20th. Citigroup decreased 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. Raymond James dropped their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday. Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and decreased their target price for the stock from $283.00 to $221.00 in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned 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, the company presently has an average rating of "Moderate Buy" and an average target price of $300.60.

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FedEx Stock Performance

Shares of FedEx stock traded down $1.13 during trading hours on Friday, reaching $241.19. The company had a trading volume of 2,668,902 shares, compared to its average volume of 1,686,039. The firm has a market cap of $58.09 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx has a one year low of $217.22 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business has a fifty day simple moving average of $258.58 and a 200 day simple moving average of $271.75.

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

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.29%. FedEx's dividend payout ratio (DPR) is currently 34.63%.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the business's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane bought 333 shares of the company's stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company's stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Citizens Financial Group Inc. RI increased its stake in shares of FedEx by 3.0% during the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider's stock valued at $360,000 after buying an additional 38 shares during the period. Regal Investment Advisors LLC increased its position in FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after purchasing an additional 38 shares during the period. Cetera Trust Company N.A lifted its position in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock worth $2,230,000 after purchasing an additional 40 shares during the period. Griffin Asset Management Inc. boosted its stake in shares of FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock valued at $2,916,000 after purchasing an additional 40 shares in the last quarter. Finally, Aviso Financial Inc. increased its position in shares of FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after buying an additional 40 shares during the period. Institutional investors 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.