FedEx (FDX) PT Lowered to $310.00

FedEx (NYSE:FDX) had its target price lowered by Loop Capital to $310.00 in a report released on Thursday morning. Loop Capital currently has a buy rating on the shipping service provider’s stock.

A number of other research firms also recently issued reports on FDX. Oppenheimer increased their price objective on shares of FedEx from $282.00 to $288.00 and gave the company an outperform rating in a research note on Thursday, June 14th. Morgan Stanley dropped their price objective on shares of FedEx from $248.00 to $245.00 and set an equal weight rating on the stock in a research note on Wednesday, June 20th. Credit Suisse Group increased their price objective on shares of FedEx from $306.00 to $315.00 and gave the company an outperform rating in a research note on Wednesday, June 20th. JPMorgan Chase & Co. reiterated a buy rating and set a $315.00 price objective on shares of FedEx in a research note on Monday, March 19th. Finally, Stifel Nicolaus upgraded shares of FedEx from a hold rating to a buy rating and increased their price objective for the company from $284.00 to $295.00 in a research note on Wednesday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have given a buy rating to the stock. FedEx has an average rating of Buy and a consensus target price of $285.94.

NYSE FDX opened at $241.77 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.37 and a current ratio of 1.39. FedEx has a 52-week low of $203.13 and a 52-week high of $274.66. The company has a market cap of $66.09 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 19th. The shipping service provider reported $5.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.72 by $0.19. FedEx had a net margin of 6.99% and a return on equity of 23.17%. The firm had revenue of $17.31 billion for the quarter, compared to the consensus estimate of $17.24 billion. During the same period last year, the firm earned $4.25 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. equities analysts predict that FedEx will post 17.34 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 9th. Stockholders of record on Monday, June 25th will be paid a dividend of $0.65 per share. This is an increase from FedEx’s previous quarterly dividend of $0.50. This represents a $2.60 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, June 22nd. FedEx’s payout ratio is presently 13.06%.

In other news, CEO Frederick W. Smith sold 124,000 shares of FedEx stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $255.99, for a total transaction of $31,742,760.00. Following the completion of the sale, the chief executive officer now directly owns 14,864,465 shares in the company, valued at $3,805,154,395.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul S. Walsh sold 4,400 shares of FedEx stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $255.00, for a total transaction of $1,122,000.00. Following the sale, the director now owns 14,400 shares of the company’s stock, valued at $3,672,000. The disclosure for this sale can be found here. Insiders own 8.45% of the company’s stock.

Large investors have recently bought and sold shares of the company. Roof Eidam & Maycock ADV raised its holdings in shares of FedEx by 4.4% during the first quarter. Roof Eidam & Maycock ADV now owns 4,981 shares of the shipping service provider’s stock worth $1,196,000 after purchasing an additional 210 shares during the last quarter. SevenBridge Financial Group LLC raised its holdings in shares of FedEx by 4.9% during the first quarter. SevenBridge Financial Group LLC now owns 4,527 shares of the shipping service provider’s stock worth $1,087,000 after purchasing an additional 213 shares during the last quarter. NBT Bank N A NY raised its holdings in shares of FedEx by 15.1% during the first quarter. NBT Bank N A NY now owns 1,636 shares of the shipping service provider’s stock worth $393,000 after purchasing an additional 215 shares during the last quarter. Westover Capital Advisors LLC raised its holdings in shares of FedEx by 1.1% during the fourth quarter. Westover Capital Advisors LLC now owns 20,491 shares of the shipping service provider’s stock worth $5,113,000 after purchasing an additional 220 shares during the last quarter. Finally, Elite Wealth Management Inc. raised its holdings in shares of FedEx by 8.1% during the first quarter. Elite Wealth Management Inc. now owns 2,975 shares of the shipping service provider’s stock worth $714,000 after purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.

Analyst Recommendations for FedEx (NYSE:FDX)

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