FedEx (NYSE:FDX) Downgraded by BMO Capital Markets

BMO Capital Markets cut shares of FedEx (NYSE:FDX) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. They currently have $165.00 target price on the shipping service provider’s stock, down from their previous target price of $190.00.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of FedEx from a hold rating to a sell rating and set a $161.00 target price on the stock. in a report on Thursday, August 29th. Sanford C. Bernstein set a $205.00 target price on shares of FedEx and gave the stock a buy rating in a report on Thursday, June 20th. ValuEngine downgraded shares of FedEx from a hold rating to a sell rating in a report on Thursday, August 1st. Morgan Stanley set a $131.00 target price on shares of FedEx and gave the stock a hold rating in a report on Tuesday, September 3rd. Finally, Berenberg Bank set a $175.00 target price on shares of FedEx and gave the stock a hold rating in a report on Friday, June 28th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $175.56.

FDX stock opened at $148.78 on Wednesday. FedEx has a one year low of $147.82 and a one year high of $250.95. The company’s fifty day moving average price is $160.17 and its 200-day moving average price is $170.42. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.39 and a current ratio of 1.31. The company has a market capitalization of $39.37 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 0.81 and a beta of 1.69.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.12). FedEx had a return on equity of 21.15% and a net margin of 0.65%. The company had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the firm posted $3.46 EPS. FedEx’s quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts predict that FedEx will post 12.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, September 6th. FedEx’s dividend payout ratio (DPR) is 16.75%.

In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total transaction of $718,747.20. Following the transaction, the director now owns 16,440 shares in the company, valued at $2,661,307.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Carter sold 23,100 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the transaction, the executive vice president now owns 68,446 shares in the company, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. Insiders own 8.44% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund increased its position in FedEx by 22.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 107,419 shares of the shipping service provider’s stock valued at $17,637,000 after acquiring an additional 19,349 shares during the last quarter. InterOcean Capital LLC increased its position in FedEx by 8.0% during the second quarter. InterOcean Capital LLC now owns 160,442 shares of the shipping service provider’s stock valued at $26,343,000 after acquiring an additional 11,932 shares during the last quarter. Heritage Investors Management Corp grew its holdings in shares of FedEx by 4.3% in the second quarter. Heritage Investors Management Corp now owns 76,800 shares of the shipping service provider’s stock worth $12,610,000 after purchasing an additional 3,189 shares during the last quarter. First Dallas Securities Inc. grew its holdings in shares of FedEx by 7.4% in the first 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 during the last quarter. Finally, Baker Ellis Asset Management LLC grew its holdings in shares of FedEx by 4.2% in the second quarter. Baker Ellis Asset Management LLC now owns 4,950 shares of the shipping service provider’s stock worth $813,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 71.34% 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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