FedEx (NYSE:FDX) Price Target Cut to $175.00 by Analysts at Credit Suisse Group

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FedEx (NYSE:FDX) had its target price reduced by Credit Suisse Group from $184.00 to $175.00 in a report issued on Wednesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the shipping service provider’s stock.

Other equities analysts also recently issued research reports about the stock. Daiwa Capital Markets downgraded shares of FedEx from an outperform rating to a neutral rating and reduced their price objective for the stock from $187.00 to $179.00 in a research note on Thursday, March 21st. They noted that the move was a valuation call. Morgan Stanley set a $148.00 price objective on shares of FedEx and gave the stock a hold rating in a research note on Friday, May 17th. ValuEngine downgraded shares of FedEx from a sell rating to a strong sell rating in a research note on Monday, June 3rd. KeyCorp reduced their price objective on shares of FedEx from $215.00 to $190.00 and set an overweight rating for the company in a research note on Wednesday, June 12th. Finally, Barclays reissued a buy rating and issued a $185.00 price objective on shares of FedEx in a research note on Thursday, June 13th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $194.87.

Shares of NYSE:FDX opened at $159.92 on Wednesday. The company has a market capitalization of $40.64 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 0.76 and a beta of 1.69. FedEx has a 52 week low of $150.68 and a 52 week high of $259.25. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87. The business has a 50 day simple moving average of $164.42.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.93 by $0.08. The company had revenue of $17.81 billion during the quarter, compared to the consensus estimate of $17.85 billion. FedEx had a net margin of 0.77% and a return on equity of 21.10%. FedEx’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.91 earnings per share. As a group, 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. Stockholders of record on Monday, June 24th will be given a dividend of $0.65 per share. 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 presently 16.75%.

In other news, CEO Frederick W. Smith sold 155,650 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the transaction, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Several hedge funds have recently modified their holdings of FDX. Buckingham Capital Management Inc. increased its position in shares of FedEx by 1.6% during the fourth quarter. Buckingham Capital Management Inc. now owns 8,871 shares of the shipping service provider’s stock valued at $1,431,000 after acquiring an additional 137 shares during the last quarter. Comerica Securities Inc. increased its position in shares of FedEx by 369.7% during the fourth quarter. Comerica Securities Inc. now owns 43,263 shares of the shipping service provider’s stock valued at $6,986,000 after acquiring an additional 34,052 shares during the last quarter. Front Barnett Associates LLC increased its position in shares of FedEx by 1.4% during the fourth quarter. Front Barnett Associates LLC now owns 78,511 shares of the shipping service provider’s stock valued at $12,666,000 after acquiring an additional 1,061 shares during the last quarter. FDx Advisors Inc. increased its position in shares of FedEx by 258.3% during the fourth quarter. FDx Advisors Inc. now owns 9,477 shares of the shipping service provider’s stock valued at $1,529,000 after acquiring an additional 6,832 shares during the last quarter. Finally, Bank of The West increased its position in shares of FedEx by 42.3% during the fourth quarter. Bank of The West now owns 25,423 shares of the shipping service provider’s stock valued at $4,101,000 after acquiring an additional 7,555 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors and hedge funds.

About FedEx

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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