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

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

Several other equities analysts also recently issued reports on the company. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and cut their price objective for the company from $283.00 to $221.00 in a research report on Friday. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Citigroup lowered their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Stephens reduced their target price on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Bank of America lowered their price target on shares of FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $301.67.

FedEx Stock Down 6.5 %

Shares of NYSE:FDX opened at $230.25 on Friday. The company’s fifty day moving average is $259.95 and its 200-day moving average is $272.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx has a 52 week low of $217.22 and a 52 week high of $313.84. 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 (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). The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.86 earnings per share. Equities research analysts predict that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 dividend yield of 2.40%. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was 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 in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares of the company’s stock, 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.

Hedge Funds Weigh In On FedEx

Hedge funds have recently made changes to their positions in the business. bLong Financial LLC bought a new position in FedEx in the fourth quarter valued at $391,000. Virtu Financial LLC bought a new position in shares of FedEx in the 3rd quarter valued at about $3,405,000. Lodestone Wealth Management LLC acquired a new stake in shares of FedEx in the fourth quarter valued at about $461,000. Wedmont Private Capital raised its holdings in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares in the last quarter. Finally, GFS Advisors LLC acquired a new position in FedEx during the fourth quarter valued at approximately $26,855,000. 84.47% of the stock is owned by institutional investors.

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.