FedEx (NYSE:FDX) Price Target Cut to $300.00 by Analysts at Raymond James

FedEx (NYSE:FDXFree Report) had its price objective lowered by Raymond James from $325.00 to $300.00 in a research report released on Monday, Benzinga reports. Raymond James currently has an outperform rating on the shipping service provider’s stock.

A number of other research analysts have also recently weighed in on FDX. JPMorgan Chase & Co. cut their price objective on shares of FedEx from $301.00 to $296.00 and set a neutral rating on the stock in a research report on Friday, May 24th. The Goldman Sachs Group increased their price objective on shares of FedEx from $291.00 to $324.00 and gave the stock a buy rating in a research report on Friday, March 22nd. BMO Capital Markets boosted their target price on FedEx from $290.00 to $310.00 and gave the company a market perform rating in a research report on Friday, March 22nd. BNP Paribas reiterated an underperform rating and issued a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. Finally, Wells Fargo & Company upgraded FedEx to a hold rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $313.09.

Check Out Our Latest Report on FedEx

FedEx Stock Up 15.5 %

Shares of NYSE FDX opened at $296.19 on Monday. The stock has a market capitalization of $72.89 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 0.93 and a beta of 1.16. FedEx has a 12-month low of $224.69 and a 12-month high of $296.86. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $256.13 and its 200-day moving average price is $255.72.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.86% and a net margin of 4.94%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.94 earnings per share. On average, equities research analysts anticipate that FedEx will post 20.26 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.86%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio is presently 32.04%.

FedEx declared that its Board of Directors has initiated a share repurchase program on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Richard W. Smith sold 1,325 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $278.24, for a total value of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Insiders sold a total of 117,275 shares of company stock worth $32,177,298 in the last 90 days. 8.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Scarborough Advisors LLC purchased a new position in FedEx in the 4th quarter worth $25,000. Fortis Group Advisors LLC increased its holdings 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 period. Financial Management Professionals Inc. raised its stake in shares of FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in shares of FedEx during the fourth quarter worth about $28,000. Finally, Rakuten Securities Inc. purchased a new stake in FedEx in the fourth quarter valued at approximately $30,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.