Stifel Nicolaus Cuts FedEx (NYSE:FDX) Price Target to $364.00

FedEx (NYSE:FDX) had its price target trimmed by Stifel Nicolaus from $368.00 to $364.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the shipping service provider’s stock.

Other equities analysts also recently issued research reports about the stock. Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and boosted their price target for the stock from $288.00 to $365.00 in a research note on Friday, December 20th. Citigroup boosted their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Raymond James upped their price target on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $325.43.

FedEx Price Performance

FDX stock opened at $273.12 on Thursday. The business’s fifty day moving average price is $281.64 and its 200 day moving average price is $283.27. FedEx has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $65.78 billion, a PE ratio of 17.41, a P/E/G ratio of 1.12 and a beta of 1.20.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.99 earnings per share. On average, sell-side analysts anticipate that FedEx will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Buying and Selling at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of the company’s 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 sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

Several institutional investors have recently bought and sold shares of FDX. IVC Wealth Advisors LLC lifted its stake in shares of FedEx by 2.0% in the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after acquiring an additional 38 shares during the period. Citizens Financial Group Inc. RI raised its holdings in 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 worth $360,000 after purchasing an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its position in FedEx by 4.0% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 39 shares during the period. Buckley Wealth Management LLC boosted its holdings in FedEx by 1.0% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock valued at $1,088,000 after purchasing an additional 40 shares in the last quarter. Finally, Evermay Wealth Management LLC increased its position in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. 84.47% of the stock is 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.