FedEx (NYSE:FDX) Given New $272.00 Price Target at Bank of America

FedEx (NYSE:FDX) had its price objective lowered by Bank of America from $295.00 to $272.00 in a report issued on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the shipping service provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus lowered their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Citigroup lowered their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.60.

FedEx Stock Performance

Shares of FDX opened at $230.25 on Friday. The company has a 50-day simple moving average of $259.95 and a 200-day simple moving average of $272.64. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $55.46 billion, a PE ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx has a 52-week low of $217.22 and a 52-week high of $313.84.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.40%. FedEx’s payout ratio is 35.18%.

Insider Activity at FedEx

In other news, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % 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 insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC lifted its position in shares of FedEx by 144.4% during the fourth 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 acquired a new stake in FedEx in the fourth quarter valued at $26,000. Peoples Financial Services CORP. acquired a new stake in FedEx in the fourth quarter valued at $28,000. City Holding Co. acquired a new stake in FedEx in the fourth quarter valued at $28,000. Finally, Kentucky Trust Co acquired a new stake in FedEx in the fourth quarter valued at $28,000. 84.47% of the stock is owned by institutional investors and hedge funds.

About FedEx

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.