Wells Fargo & Company Cuts FedEx (NYSE:FDX) Price Target to $275.00

FedEx (NYSE:FDX) had its price objective trimmed by Wells Fargo & Company from $320.00 to $275.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the shipping service provider’s stock.

Several other analysts also recently weighed in on the company. Barclays boosted their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. BMO Capital Markets boosted their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and reduced their target price for the company from $365.00 to $283.00 in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, Stephens reduced their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $318.58.

FedEx Trading Up 1.6 %

NYSE:FDX opened at $253.80 on Thursday. The stock has a 50-day simple moving average of $266.55 and a 200-day simple moving average of $276.18. The stock has a market cap of $61.13 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx has a 1 year low of $242.92 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

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

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction on Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fortitude Family Office LLC lifted its stake in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the period. Transce3nd LLC purchased a new position in shares of FedEx during the 4th quarter worth $26,000. Peoples Financial Services CORP. purchased a new position in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. purchased a new position in shares of FedEx during the 4th quarter worth $28,000. Finally, Kentucky Trust Co purchased a new position in shares of FedEx in the 4th quarter worth $28,000. Hedge funds and other 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.