FedEx (NYSE:FDX) Price Target Cut to $354.00 by Analysts at Stifel Nicolaus

FedEx (NYSE:FDX - Free Report) had its target price lowered by Stifel Nicolaus from $364.00 to $354.00 in a report published on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the shipping service provider's stock.

Several other brokerages have also weighed in on FDX. JPMorgan Chase & Co. lowered their target price on shares of FedEx from $372.00 to $323.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Sanford C. Bernstein downgraded FedEx from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Raymond James downgraded FedEx from an "outperform" rating to a "market perform" rating in a research report on Monday, February 3rd. UBS Group raised their price target on FedEx from $311.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company decreased their price objective on shares of FedEx from $320.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, FedEx has a consensus rating of "Moderate Buy" and an average price target of $300.60.

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FedEx Stock Performance

FDX traded up $12.25 during trading on Friday, reaching $242.58. The company's stock had a trading volume of 2,129,709 shares, compared to its average volume of 1,824,617. The company has a market capitalization of $58.43 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company's fifty day moving average price is $259.95 and its 200-day moving average price is $272.35. FedEx has a 52-week low of $217.22 and a 52-week high of $313.84. 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 (NYSE:FDX - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company's revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.86 EPS. On average, equities analysts forecast that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx's dividend payout ratio is currently 35.18%.

Insider Transactions at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company's stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy B. Lane acquired 333 shares of the stock in a transaction dated 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 completion of the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company's stock.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. bLong Financial LLC acquired a new stake in FedEx during the 4th quarter worth approximately $391,000. Virtu Financial LLC purchased a new stake in FedEx during the third quarter worth approximately $3,405,000. Lodestone Wealth Management LLC acquired a new stake in shares of FedEx in the fourth quarter worth $461,000. Wedmont Private Capital raised its stake in shares of FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider's stock valued at $631,000 after acquiring an additional 91 shares during the period. Finally, GFS Advisors LLC acquired a new position in shares of FedEx during the 4th quarter valued at $26,855,000. 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.