UBS Group Lowers FedEx (NYSE:FDX) Price Target to $311.00

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

FDX has been the subject of several other reports. Wells Fargo & Company raised their target price on shares of FedEx from $275.00 to $300.00 and gave the company an equal weight rating in a research note on Wednesday, June 26th. Evercore ISI lowered their price objective on FedEx from $335.00 to $318.00 and set an outperform rating for the company in a research report on Friday. Oppenheimer restated a market perform rating on shares of FedEx in a research note on Wednesday, June 26th. HSBC lowered shares of FedEx from a buy rating to a hold rating and set a $300.00 price objective for the company. in a research report on Friday. Finally, Stephens reissued an overweight rating and set a $325.00 target price on shares of FedEx in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of Moderate Buy and a consensus price target of $314.74.

FedEx Stock Up 1.6 %

Shares of NYSE FDX opened at $258.82 on Friday. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The stock’s fifty day simple moving average is $291.50 and its two-hundred day simple moving average is $275.28. The stock has a market capitalization 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 current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during 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%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $4.55 EPS. As a group, analysts expect that FedEx will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed 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 yield of 2.13%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the business’s 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 completion of the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David P. Steiner sold 1,369 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total transaction of $407,564.99. Following the completion of the sale, the director now directly owns 35,183 shares in the company, valued at $10,474,330.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares of the company’s stock, 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 90 days. 8.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

A number of large investors have recently bought and sold shares of the business. Fortis Group Advisors LLC grew its position in FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx during the 4th quarter worth about $25,000. Central Valley Advisors LLC acquired a new stake in FedEx during the 2nd quarter worth about $39,000. Security National Bank acquired a new position in shares of FedEx in the 4th quarter valued at about $44,000. Finally, Abound Wealth Management lifted its position in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in 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.