Stifel Nicolaus Cuts FedEx (NYSE:FDX) Price Target to $354.00

FedEx (NYSE:FDX) had its price objective lowered by Stifel Nicolaus from $364.00 to $354.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the shipping service provider’s stock.

FDX has been the topic of a number of other research reports. TD Cowen increased their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Raymond James downgraded FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. Piper Sandler cut FedEx to a “neutral” rating in a report on Monday, February 3rd. Stephens lowered their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Finally, Citigroup cut their price target on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.67.

FedEx Trading Down 6.5 %

FDX opened at $230.25 on Friday. FedEx has a 1-year low of $217.22 and a 1-year high of $313.84. The stock has a market capitalization of $55.46 billion, a PE ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. 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 50-day moving average price of $259.95 and a two-hundred day moving average price of $272.35.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate 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%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the business posted $3.86 earnings per share. As a group, equities analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

Several large investors have recently modified their holdings of FDX. Fortitude Family Office LLC increased its holdings in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Transce3nd LLC acquired a new stake in shares of FedEx during the 4th quarter worth approximately $26,000. Peoples Financial Services CORP. bought a new position in FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. acquired a new position in FedEx during the fourth quarter valued at approximately $28,000. Finally, Kentucky Trust Co bought a new stake in FedEx during the fourth quarter worth $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.