FedEx (FDX) Price Target Cut to $200.00

FedEx (NYSE:FDX) had its price target lowered by UBS Group from $234.00 to $200.00 in a report issued on Thursday morning, The Fly reports. The brokerage currently has an outperform rating on the shipping service provider’s stock.

Several other brokerages have also recently weighed in on FDX. Credit Suisse Group set a $307.00 price target on FedEx and gave the company a buy rating in a research note on Tuesday, September 18th. JPMorgan Chase & Co. reissued a buy rating and issued a $305.00 price target on shares of FedEx in a research note on Tuesday, September 18th. Morgan Stanley reissued a hold rating and issued a $242.00 price target (down previously from $245.00) on shares of FedEx in a research note on Tuesday, September 18th. Berenberg Bank began coverage on FedEx in a research note on Friday, September 21st. They issued a buy rating and a $300.00 price target for the company. Finally, Loop Capital increased their price target on FedEx to $318.00 and gave the company a buy rating in a research note on Tuesday, September 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $237.75.

Shares of FDX stock opened at $170.99 on Thursday. The stock has a market capitalization of $44.53 billion, a PE ratio of 11.17, a P/E/G ratio of 0.84 and a beta of 1.63. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. FedEx has a 1-year low of $150.94 and a 1-year high of $274.66.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.05 by ($0.02). The company had revenue of $17.82 billion during the quarter, compared to analyst estimates of $17.71 billion. FedEx had a net margin of 7.23% and a return on equity of 24.11%. During the same period in the previous year, the company posted $3.18 EPS. As a group, research analysts predict that FedEx will post 15.91 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 10th were given a dividend of $0.65 per share. The ex-dividend date was Friday, December 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.52%. FedEx’s payout ratio is 16.98%.

In other news, Director Susan Patricia Griffith purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were acquired at an average price of $225.16 per share, for a total transaction of $225,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David P. Steiner purchased 7,000 shares of the business’s stock in a transaction on Wednesday, January 2nd. The stock was purchased at an average price of $162.92 per share, for a total transaction of $1,140,440.00. Following the acquisition, the director now owns 25,994 shares of the company’s stock, valued at approximately $4,234,942.48. The disclosure for this purchase can be found here. 8.50% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Sound Income Strategies LLC lifted its holdings in shares of FedEx by 1,666.7% in the fourth quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. North Star Investment Management Corp. lifted its holdings in shares of FedEx by 101.8% in the fourth quarter. North Star Investment Management Corp. now owns 442 shares of the shipping service provider’s stock valued at $71,000 after purchasing an additional 223 shares in the last quarter. Palo Capital Inc. bought a new position in shares of FedEx in the third quarter valued at approximately $108,000. Virtus Alternative Investment Advisers Inc. bought a new position in shares of FedEx in the third quarter valued at approximately $110,000. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of FedEx by 14,117.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock valued at $114,000 after purchasing an additional 63,386 shares in the last quarter. Institutional investors and hedge funds own 72.44% of the company’s stock.

About FedEx

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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