FedEx (NYSE:FDX) Price Target Lowered to $220.00 at Loop Capital

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FedEx (NYSE:FDX) had its price objective lowered by Loop Capital from $262.00 to $220.00 in a report published on Wednesday, The Fly reports.

A number of other brokerages have also issued reports on FDX. TheStreet lowered FedEx from a b- rating to a c+ rating in a research note on Thursday, June 6th. Zacks Investment Research downgraded shares of FedEx from a hold rating to a sell rating in a report on Tuesday, March 19th. Daiwa Capital Markets downgraded shares of FedEx from an outperform rating to a neutral rating and dropped their price objective for the company from $187.00 to $179.00 in a report on Thursday, March 21st. They noted that the move was a valuation call. Sanford C. Bernstein set a $205.00 price objective on shares of FedEx and gave the company a buy rating in a report on Thursday, June 20th. Finally, Raymond James dropped their price objective on shares of FedEx from $215.00 to $200.00 and set an outperform rating for the company in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $194.87.

Shares of FDX stock opened at $159.92 on Wednesday. FedEx has a 52-week low of $150.68 and a 52-week high of $259.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40. The stock has a market cap of $40.64 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 0.76 and a beta of 1.69. The business has a fifty day simple moving average of $164.42.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.93 by $0.08. FedEx had a return on equity of 21.10% and a net margin of 0.77%. The business had revenue of $17.81 billion during the quarter, compared to analyst estimates of $17.85 billion. During the same quarter in the prior year, the business posted $5.91 EPS. FedEx’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts anticipate that FedEx will post 16.01 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Monday, June 24th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, June 21st. FedEx’s payout ratio is 16.75%.

In related news, CEO Frederick W. Smith sold 155,650 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the transaction, the chief executive officer now owns 14,945,124 shares of the company’s stock, valued at approximately $2,837,032,888.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in FDX. Berman Capital Advisors LLC bought a new position in shares of FedEx in the 4th quarter valued at about $25,000. Cordasco Financial Network lifted its holdings in shares of FedEx by 181.8% in the 1st quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Covenant Multifamily Offices LLC bought a new position in shares of FedEx in the 1st quarter valued at about $29,000. Evolution Wealth Advisors LLC bought a new position in shares of FedEx in the 1st quarter valued at about $31,000. Finally, Advocacy Wealth Management Services LLC lifted its holdings in shares of FedEx by 52.5% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock valued at $34,000 after acquiring an additional 63 shares during the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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