BMO Capital Markets Lowers FedEx (NYSE:FDX) Price Target to $275.00

FedEx (NYSE:FDX) had its price target decreased by investment analysts at BMO Capital Markets from $330.00 to $275.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 19.43% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Bank of America dropped their price objective on shares of FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research note on Friday. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and dropped their price objective for the company from $283.00 to $221.00 in a research note on Friday. Wells Fargo & Company dropped their price objective on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Truist Financial assumed coverage on shares of FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target for the company. Finally, Stephens dropped their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $301.67.

FedEx Stock Down 6.5 %

FDX opened at $230.25 on Friday. FedEx has a twelve month low of $217.22 and a twelve month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $259.95 and a 200 day moving average price of $272.49. The company has a market cap of $55.46 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the prior year, the company posted $3.86 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI raised its holdings in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares in the last quarter. Regal Investment Advisors LLC grew its position in shares of FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after buying an additional 38 shares during the last quarter. Cetera Trust Company N.A grew its position in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after buying an additional 40 shares during the last quarter. Griffin Asset Management Inc. grew its position in shares of FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after buying an additional 40 shares during the last quarter. Finally, Aviso Financial Inc. grew its position in shares of FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after buying an additional 40 shares during the last quarter. 84.47% of the stock is currently 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.