Stifel Nicolaus Cuts FedEx (NYSE:FDX) Price Target to $303.00

FedEx (NYSE:FDX) had its price objective trimmed by Stifel Nicolaus from $306.00 to $303.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group raised their price target on FedEx from $291.00 to $324.00 and gave the stock a buy rating in a research note on Friday, March 22nd. UBS Group raised their target price on FedEx from $323.00 to $340.00 and gave the stock a buy rating in a report on Friday, March 22nd. Jefferies Financial Group raised their target price on FedEx from $265.00 to $300.00 and gave the stock a hold rating in a report on Friday, March 22nd. Bank of America decreased their target price on FedEx from $346.00 to $340.00 and set a buy rating on the stock in a report on Tuesday. Finally, Melius raised FedEx from a hold rating to a buy rating in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $301.33.

FedEx Stock Down 0.7 %

Shares of NYSE:FDX opened at $273.52 on Wednesday. FedEx has a 52-week low of $213.80 and a 52-week high of $291.27. The firm has a market capitalization of $67.31 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.32 and a beta of 1.21. The stock has a 50 day moving average price of $253.51 and a 200-day moving average price of $253.48. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the company earned $3.41 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that FedEx will post 17.6 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $1.26 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.84%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

FedEx announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at FedEx

In related news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares in the company, valued at $140,507.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the transaction, the director now owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at approximately $140,507.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,718 shares of company stock worth $5,950,143. Company insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

Large investors have recently made changes to their positions in the business. Scarborough Advisors LLC purchased a new stake in shares of FedEx during the fourth quarter valued at $25,000. Fortis Group Advisors LLC grew its holdings in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in FedEx in the fourth quarter valued at $28,000. Finally, Rakuten Securities Inc. purchased a new stake in FedEx in the fourth quarter valued at $30,000. 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.