Stephens Cuts FedEx (NYSE:FDX) Price Target to $345.00

FedEx (NYSE:FDX) had its price objective trimmed by Stephens from $350.00 to $345.00 in a report issued on Friday morning,Benzinga reports. The firm currently has an overweight rating on the shipping service provider’s stock.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group lowered their price objective on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Stifel Nicolaus upped their price target on FedEx from $321.00 to $368.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Finally, Raymond James decreased their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Trading Down 0.1 %

Shares of NYSE:FDX opened at $275.73 on Friday. The stock has a 50 day moving average of $282.71 and a 200 day moving average of $282.10. The company has a market cap of $67.37 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. FedEx has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the business posted $3.99 earnings per share. The company’s revenue was down .7% on a year-over-year basis. As a group, equities research analysts expect that FedEx will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is currently 35.18%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Evermay Wealth Management LLC boosted its holdings in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC purchased a new stake in FedEx in the third quarter worth $31,000. Abound Wealth Management boosted its stake in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx during the third quarter valued at $47,000. Finally, Sachetta LLC grew its holdings in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

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.