FedEx (NYSE:FDX) Given New $354.00 Price Target at Stifel Nicolaus

FedEx (NYSE:FDX) had its price target trimmed by Stifel Nicolaus from $364.00 to $354.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

Other research analysts have also recently issued reports about the company. Stephens reduced their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. UBS Group increased their price target on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. BMO Capital Markets increased their price target on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.60.

FedEx Stock Down 6.5 %

FDX stock opened at $230.25 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $55.46 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. The business has a 50-day moving average of $259.95 and a 200-day moving average of $272.64. FedEx has a fifty-two week low of $217.22 and a fifty-two week high of $313.84.

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

FedEx Dividend Announcement

The company 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 dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.40%. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

Insider Transactions at FedEx

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

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently added to or reduced their stakes in FDX. Fortitude Family Office LLC boosted its holdings in shares of FedEx by 144.4% in the 4th 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 in the last quarter. Transce3nd LLC acquired a new stake in shares of FedEx in the 4th quarter valued at $26,000. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the 4th quarter valued at $28,000. City Holding Co. acquired a new stake in shares of FedEx in the 4th quarter valued at $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter valued at $28,000. 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.