Raymond James Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price objective reduced by Raymond James from $320.00 to $290.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the shipping service provider’s stock.

Several other equities research analysts have also recently commented on FDX. UBS Group boosted their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Piper Sandler cut FedEx to a “neutral” rating in a research note on Monday, February 3rd. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Stephens cut their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Finally, Stifel Nicolaus cut their target price on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $301.60.

FedEx Trading Down 6.5 %

NYSE:FDX opened at $230.25 on Friday. FedEx has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $55.46 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The business’s 50-day simple moving average is $259.95 and its 200-day simple moving average is $272.64.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the firm earned $3.86 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.40%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

Institutional Trading of FedEx

Institutional investors have recently modified their holdings of the stock. bLong Financial LLC bought a new stake in shares of FedEx during the 4th quarter valued at $391,000. Virtu Financial LLC bought a new stake in shares of FedEx during the 3rd quarter worth $3,405,000. Lodestone Wealth Management LLC bought a new stake in shares of FedEx during the 4th quarter worth $461,000. Wedmont Private Capital lifted its position in shares of FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares during the last quarter. Finally, GFS Advisors LLC bought a new stake in shares of FedEx during the 4th quarter worth $26,855,000. 84.47% of the stock is currently owned by institutional investors.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.