FedEx (NYSE:FDX) Price Target Cut to $330.00 by Analysts at Susquehanna

FedEx (NYSE:FDX) had its price objective decreased by Susquehanna from $345.00 to $330.00 in a report issued on Friday, Benzinga reports. Susquehanna currently has a positive rating on the shipping service provider’s stock.

Several other research analysts have also weighed in on the company. HSBC lowered FedEx from a buy rating to a hold rating and set a $300.00 target price on the stock. in a report on Friday. Stifel Nicolaus reissued a buy rating and set a $327.00 target price (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Bernstein Bank raised their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an overweight rating in a report on Friday. Daiwa America downgraded shares of FedEx from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of FedEx from $359.00 to $350.00 and set an overweight rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $312.84.

FedEx Trading Down 15.2 %

NYSE:FDX opened at $254.63 on Friday. The firm has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a 1-year low of $224.69 and a 1-year high of $313.84. The business’s 50-day moving average price is $292.43 and its two-hundred day moving average price is $274.85. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.55 EPS. On average, equities analysts expect that FedEx will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

Insider Buying and Selling at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 in the last quarter. 8.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently modified their holdings of FDX. SeaCrest Wealth Management LLC grew its holdings in shares of FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after buying an additional 34 shares during the last quarter. LRI Investments LLC boosted its stake in FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC increased its holdings in FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC raised its stake in shares of FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC lifted 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 valued at $49,000 after purchasing an additional 37 shares in 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.