FedEx (NYSE:FDX) Given New $317.00 Price Target at Citigroup

FedEx (NYSE:FDX) had its price target trimmed by Citigroup from $347.00 to $317.00 in a report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group increased their price objective on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Raymond James cut shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 price target for the company. Finally, Truist Financial began coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $317.48.

FedEx Stock Performance

Shares of FedEx stock opened at $245.58 on Tuesday. The company has a 50 day moving average of $261.87 and a 200-day moving average of $273.48. FedEx has a 1-year low of $239.50 and a 1-year high of $313.84. 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 company has a market cap of $59.15 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the firm earned $3.99 EPS. The firm’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.25%. FedEx’s payout ratio is 35.18%.

Insider Transactions at FedEx

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 shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Transce3nd LLC bought a new stake in FedEx during the fourth quarter valued at approximately $26,000. Peoples Financial Services CORP. bought a new stake in FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. bought a new stake 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 valued at approximately $28,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

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.