FedEx (NYSE:FDX) PT Lowered to $311.00 at UBS Group

FedEx (NYSE:FDX) had its price target trimmed by UBS Group from $333.00 to $311.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

Several other analysts have also recently weighed in on the company. The Goldman Sachs Group cut their price objective on FedEx from $333.00 to $332.00 in a research report on Friday. Oppenheimer reiterated a market perform rating on shares of FedEx in a report on Wednesday, June 26th. Morgan Stanley cut shares of FedEx from an equal weight rating to an underweight rating and dropped their target price for the company from $215.00 to $200.00 in a report on Friday. Stephens reaffirmed an overweight rating and set a $325.00 price objective on shares of FedEx in a research report on Wednesday, June 26th. Finally, Raymond James cut their target price on FedEx from $335.00 to $330.00 and set a buy rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $314.74.

FedEx Price Performance

Shares of FedEx stock opened at $258.82 on Friday. The company’s fifty day simple moving average is $291.50 and its two-hundred day simple moving average is $275.28. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The firm has a market cap of $63.69 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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 business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.55 EPS. As a group, equities analysts expect that FedEx will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.13%. FedEx’s dividend payout ratio is presently 32.04%.

Insider Transactions at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were 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 owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 over the last 90 days. Company insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently bought and sold shares of FDX. Capital International Investors grew its holdings in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Sentry LLC bought a new position in FedEx in the 4th quarter worth about $307,007,000. Vanguard Group Inc. increased its position in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Putnam Investments LLC raised its stake in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares in the last quarter. Finally, Mawer Investment Management Ltd. boosted its holdings in shares of FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares during the period. 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.