FedEx (NYSE:FDX) Lowered to Market Perform at Raymond James

Raymond James lowered shares of FedEx (NYSE:FDX) from an outperform rating to a market perform rating in a research note released on Wednesday morning, PriceTargets.com reports.

FDX has been the topic of a number of other reports. Loop Capital increased their target price on shares of FedEx from $366.00 to $381.00 and gave the stock a buy rating in a report on Friday, June 25th. KeyCorp reduced their target price on shares of FedEx from $370.00 to $350.00 and set an overweight rating on the stock in a report on Monday, September 13th. Credit Suisse Group increased their target price on shares of FedEx from $364.00 to $373.00 and gave the stock an outperform rating in a report on Friday, June 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of FedEx from $318.00 to $375.00 and gave the company a buy rating in a report on Monday, June 28th. Finally, Citigroup reduced their price objective on shares of FedEx from $360.00 to $300.00 and set a buy rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of Buy and a consensus target price of $323.92.

FedEx stock opened at $226.64 on Wednesday. The firm has a 50 day simple moving average of $269.71 and a 200-day simple moving average of $284.37. FedEx has a 1-year low of $226.60 and a 1-year high of $319.90. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.51 and a quick ratio of 1.46. The stock has a market cap of $60.33 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.01 and a beta of 1.22.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Monday, September 20th. The shipping service provider reported $4.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.92 by ($0.55). The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $21.86 billion. FedEx had a return on equity of 22.55% and a net margin of 6.23%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $4.87 EPS. Equities analysts expect that FedEx will post 21.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, September 2nd. FedEx’s payout ratio is currently 16.51%.

In other news, CEO John Alan Smith sold 11,285 shares of the business’s stock in a transaction that occurred on Tuesday, June 29th. The shares were sold at an average price of $296.00, for a total value of $3,340,360.00. Following the completion of the transaction, the chief executive officer now owns 16,386 shares of the company’s stock, valued at $4,850,256. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 16,235 shares of the business’s stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $299.66, for a total transaction of $4,864,980.10. Following the completion of the transaction, the executive vice president now directly owns 68,680 shares of the company’s stock, valued at approximately $20,580,648.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,240 shares of company stock valued at $9,608,596. 8.16% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. SageGuard Financial Group LLC grew its holdings in FedEx by 3.0% in the first quarter. SageGuard Financial Group LLC now owns 1,148 shares of the shipping service provider’s stock valued at $328,000 after purchasing an additional 33 shares during the period. Nvwm LLC grew its holdings in FedEx by 13.4% in the first quarter. Nvwm LLC now owns 296 shares of the shipping service provider’s stock valued at $84,000 after purchasing an additional 35 shares during the period. MV Capital Management Inc. grew its holdings in FedEx by 2.1% in the second quarter. MV Capital Management Inc. now owns 1,819 shares of the shipping service provider’s stock valued at $543,000 after purchasing an additional 38 shares during the period. MACRO Consulting Group grew its holdings in FedEx by 2.9% in the first quarter. MACRO Consulting Group now owns 1,379 shares of the shipping service provider’s stock valued at $392,000 after purchasing an additional 39 shares during the period. Finally, Equitable Trust Co. grew its stake in FedEx by 0.7% during the first quarter. Equitable Trust Co. now owns 5,575 shares of the shipping service provider’s stock worth $1,584,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 72.64% of the company’s stock.

About FedEx

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

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Analyst Recommendations for FedEx (NYSE:FDX)

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