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

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

FDX has been the topic of several other research reports. Wells Fargo & Company cut their price objective on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Truist Financial initiated coverage on FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 target price for the company. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. BMO Capital Markets raised their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, TD Cowen raised their target price on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.60.

FedEx Trading Down 6.5 %

NYSE FDX opened at $230.25 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx has a twelve month low of $217.22 and a twelve month high of $313.84. The company has a market cap of $55.46 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The business’s fifty day moving average is $259.95 and its 200 day moving average is $272.64.

FedEx (NYSE:FDX) last released 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the business earned $3.86 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction dated 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 completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently added to or reduced their stakes in the stock. 111 Capital purchased a new position in shares of FedEx in the 4th quarter worth approximately $508,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of FedEx by 69.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,477 shares of the shipping service provider’s stock worth $21,515,000 after buying an additional 31,376 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of FedEx by 2.6% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 19,524 shares of the shipping service provider’s stock worth $5,493,000 after buying an additional 491 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of FedEx in the 4th quarter worth approximately $44,690,000. Finally, Northstar Financial Companies Inc. purchased a new position in shares of FedEx in the 4th quarter worth approximately $393,000. Institutional investors and hedge funds 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.