FedEx (NYSE:FDX) had its price objective trimmed by Raymond James from $215.00 to $200.00 in a research note published on Thursday, The Fly reports. The brokerage currently has an outperform rating on the shipping service provider’s stock.
FDX has been the subject of several other reports. UBS Group downgraded shares of FedEx from a neutral rating to a sell rating and decreased their price objective for the stock from $171.00 to $161.00 in a report on Friday, April 26th. Morgan Stanley decreased their price objective on shares of FedEx from $156.00 to $148.00 and set an equal weight rating for the company in a report on Wednesday, March 20th. Credit Suisse Group reaffirmed a buy rating and set a $241.00 price objective on shares of FedEx in a report on Monday, April 1st. Zacks Investment Research downgraded shares of FedEx from a hold rating to a sell rating in a report on Tuesday, March 19th. Finally, Cowen reissued an outperform rating and issued a $237.00 price target (down from $242.00) on shares of FedEx in a report on Thursday, March 14th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $200.77.
NYSE FDX opened at $165.35 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87. The firm has a market cap of $43.09 billion, a P/E ratio of 10.80, a PEG ratio of 0.80 and a beta of 1.69. FedEx has a 1 year low of $150.68 and a 1 year high of $259.25.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Monday, June 24th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, June 21st. FedEx’s dividend payout ratio (DPR) is presently 16.98%.
In other news, Director Susan C. Schwab sold 3,000 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $175.11, for a total value of $525,330.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick W. Smith sold 155,650 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the completion of the transaction, the chief executive officer now owns 14,945,124 shares of the company’s stock, valued at approximately $2,837,032,888.92. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in shares of FedEx by 16.4% during the 1st quarter. FMR LLC now owns 1,993,135 shares of the shipping service provider’s stock worth $361,574,000 after purchasing an additional 281,483 shares in the last quarter. Horizon Investments LLC acquired a new stake in shares of FedEx during the 1st quarter worth about $210,000. First Dallas Securities Inc. increased its position in shares of FedEx by 7.4% during the 1st quarter. First Dallas Securities Inc. now owns 6,133 shares of the shipping service provider’s stock worth $1,113,000 after purchasing an additional 425 shares in the last quarter. Nordea Investment Management AB increased its position in shares of FedEx by 63.5% during the 1st quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock worth $280,985,000 after purchasing an additional 601,465 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of FedEx by 38.8% during the 1st quarter. Advisory Services Network LLC now owns 9,033 shares of the shipping service provider’s stock worth $1,639,000 after purchasing an additional 2,527 shares in the last quarter. Institutional investors own 69.25% of the company’s stock.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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