UBS Group Cuts FedEx (NYSE:FDX) Price Target to $331.00

FedEx (NYSE:FDX) had its target price decreased by UBS Group from $350.00 to $331.00 in a research report report published on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the shipping service provider’s stock.

Other analysts also recently issued reports about the company. Truist Financial assumed coverage on FedEx in a research report on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price for the company. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. dropped their price target on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Stephens cut their price objective on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $301.67.

FedEx Trading Down 6.5 %

NYSE FDX opened at $230.25 on Friday. FedEx has a 12 month low of $217.22 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 firm has a market capitalization of $55.46 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The business’s 50-day moving average price is $259.95 and its two-hundred day moving average price is $272.35.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the previous year, the company posted $3.86 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts expect that FedEx will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm 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. This represents a $5.52 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Insiders Place Their Bets

In other news, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was 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 Investors Weigh In On FedEx

Institutional investors and hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC increased its holdings in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares in the last quarter. Transce3nd LLC bought a new stake in FedEx in the 4th quarter worth about $26,000. Peoples Financial Services CORP. purchased a new position in FedEx in the 4th quarter worth about $28,000. City Holding Co. bought a new position in FedEx during the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co purchased a new stake in shares of FedEx during the 4th quarter valued at about $28,000. 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.