FedEx (NYSE:FDX) Stock Gets Price Target Trim from Truist Financial

FedEx (NYSE:FDX) had its price objective lowered by Truist Financial from $365.00 to $350.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

Several other analysts have also issued reports on the company. Wall Street Zen raised FedEx to a “hold” rating in a research note on Saturday, August 8th. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research note on Wednesday, June 24th. TD Cowen lowered their price objective on shares of FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Jefferies Financial Group initiated coverage on shares of FedEx in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price objective for the company. Finally, UBS Group reduced their target price on shares of FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $354.64.

FedEx Trading Up 0.1%

Shares of FDX stock opened at $292.16 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $311.57 and a two-hundred day moving average price of $336.29. FedEx has a 12-month low of $179.69 and a 12-month high of $345.36. The firm has a market cap of $69.14 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The firm had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Equities analysts anticipate that FedEx will post 17.53 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, September 14th. FedEx’s payout ratio is 26.36%.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in FedEx during the 2nd quarter valued at approximately $6,508,103,000. Primecap Management Co. CA bought a new position in shares of FedEx in the 2nd quarter worth approximately $2,554,138,000. Dimensional Fund Advisors LP lifted its stake in shares of FedEx by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock valued at $936,688,000 after purchasing an additional 52,963 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of FedEx by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider’s stock valued at $760,328,000 after purchasing an additional 125,950 shares during the period. Finally, Boston Partners boosted its position in shares of FedEx by 2.9% during the fourth quarter. Boston Partners now owns 2,041,209 shares of the shipping service provider’s stock valued at $591,494,000 after purchasing an additional 57,281 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.