FedEx (FDX) Price Target Cut to $240.00

FedEx (NYSE:FDX) had its price objective cut by Morgan Stanley from $250.00 to $240.00 in a report issued on Wednesday morning. They currently have an equal weight rating on the shipping service provider’s stock.

A number of other research firms also recently commented on FDX. Zacks Investment Research raised shares of FedEx from a hold rating to a strong-buy rating and set a $310.00 price objective on the stock in a report on Thursday, January 18th. Bank of America reissued a buy rating and set a $315.00 price objective on shares of FedEx in a report on Friday, January 12th. BMO Capital Markets reissued a buy rating and set a $300.00 price objective on shares of FedEx in a report on Monday, January 8th. Robert W. Baird reissued a buy rating and set a $280.00 price objective on shares of FedEx in a report on Tuesday, January 9th. Finally, UBS raised shares of FedEx from a neutral rating to a buy rating and boosted their price objective for the stock from $264.00 to $302.00 in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $279.66.

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FDX stock opened at $229.48 on Wednesday. FedEx has a one year low of $182.89 and a one year high of $274.66. The company has a current ratio of 1.43, a quick ratio of 1.50 and a debt-to-equity ratio of 0.85. The stock has a market cap of $63,294.27, a PE ratio of 14.02, a PEG ratio of 1.22 and a beta of 1.32.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.61. FedEx had a net margin of 6.99% and a return on equity of 21.65%. The business had revenue of $16.53 billion for the quarter, compared to analyst estimates of $16.17 billion. During the same period in the previous year, the business posted $2.35 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. research analysts predict that FedEx will post 15.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, March 9th. FedEx’s dividend payout ratio (DPR) is presently 12.22%.

In related news, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the transaction, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $266.05, for a total transaction of $802,406.80. Following the transaction, the director now directly owns 16,040 shares in the company, valued at approximately $4,267,442. The disclosure for this sale can be found here. Corporate insiders own 8.45% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Cerebellum GP LLC purchased a new position in shares of FedEx during the fourth quarter valued at approximately $125,000. Financial Engines Advisors L.L.C. acquired a new position in FedEx during the third quarter worth approximately $132,000. Massey Quick Simon & CO. LLC acquired a new position in FedEx during the third quarter worth approximately $136,000. Carroll Financial Associates Inc. increased its position in FedEx by 61.1% during the third quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after purchasing an additional 240 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in FedEx during the fourth quarter worth approximately $144,000. 74.58% of the stock is currently owned by institutional investors and hedge funds.

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About FedEx

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Analyst Recommendations for FedEx (NYSE:FDX)

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