FedEx (NYSE:FDX) PT Lowered to $168.00 at Credit Suisse Group

FedEx (NYSE:FDX) had its price target lowered by Credit Suisse Group from $175.00 to $168.00 in a report published on Wednesday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the shipping service provider’s stock.

Other equities analysts also recently issued research reports about the stock. Barclays reiterated a buy rating and issued a $185.00 price target on shares of FedEx in a report on Thursday, June 13th. Stifel Nicolaus cut shares of FedEx from a buy rating to a hold rating and dropped their price objective for the stock from $185.00 to $171.00 in a research note on Wednesday. Morgan Stanley set a $131.00 price objective on shares of FedEx and gave the stock a hold rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $184.00 to $172.00 and set a neutral rating on the stock in a research note on Wednesday, June 26th. Finally, Zacks Investment Research cut shares of FedEx from a hold rating to a sell rating and set a $161.00 price objective on the stock. in a research note on Thursday, August 29th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $175.56.

Shares of NYSE:FDX opened at $148.78 on Wednesday. FedEx has a twelve month low of $147.82 and a twelve month high of $250.95. The company’s 50 day moving average is $160.17 and its 200 day moving average is $170.42. The company has a current ratio of 1.31, a quick ratio of 1.39 and a debt-to-equity ratio of 1.70. The company has a market cap 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 issued its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $17.05 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the company posted $3.46 EPS. FedEx’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts predict that FedEx will post 12.22 earnings per share for the current fiscal year.

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

In other news, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the transaction, the director now owns 16,440 shares in the company, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. Company insiders own 8.44% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Associated Banc Corp lifted its holdings in FedEx by 3.7% in the 1st quarter. Associated Banc Corp now owns 1,644 shares of the shipping service provider’s stock valued at $298,000 after purchasing an additional 59 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in FedEx by 4.0% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,661 shares of the shipping service provider’s stock valued at $273,000 after purchasing an additional 64 shares in the last quarter. Alpha Windward LLC lifted its holdings in FedEx by 7.5% in the 2nd quarter. Alpha Windward LLC now owns 977 shares of the shipping service provider’s stock valued at $169,000 after purchasing an additional 68 shares in the last quarter. FinTrust Capital Advisors LLC lifted its holdings in FedEx by 2.6% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 2,780 shares of the shipping service provider’s stock valued at $457,000 after purchasing an additional 70 shares in the last quarter. Finally, Quadrant Private Wealth Management LLC lifted its holdings in FedEx by 2.7% in the 2nd quarter. Quadrant Private Wealth Management LLC now owns 2,701 shares of the shipping service provider’s stock valued at $443,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 71.34% 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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Analyst Recommendations for FedEx (NYSE:FDX)

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