Raymond James Trims FedEx (NYSE:FDX) Target Price to $175.00
FedEx (NYSE:FDX) had its target price lowered by Raymond James from $190.00 to $175.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the shipping service provider’s stock.
A number of other equities analysts also recently commented on the company. KeyCorp cut their price objective on FedEx from $215.00 to $190.00 and set an overweight rating on the stock in a report on Wednesday, June 12th. Bank of America cut their price objective on FedEx from $188.00 to $173.00 and set a neutral rating on the stock in a report on Friday, May 31st. Citigroup cut their price objective on FedEx from $192.00 to $180.00 and set a buy rating on the stock in a report on Wednesday, June 26th. UBS Group set a $136.00 price objective on FedEx and gave the stock a sell rating in a report on Wednesday, June 26th. Finally, Zacks Investment Research downgraded FedEx from a hold rating to a sell rating and set a $161.00 price objective on the stock. in a report on Thursday, August 29th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $175.56.
FedEx stock opened at $148.78 on Wednesday. The stock’s 50-day moving average is $160.17 and its 200-day moving average is $170.42. The company has a market cap of $39.37 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 0.81 and a beta of 1.69. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.39. FedEx has a 12 month low of $147.82 and a 12 month high of $250.95.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $0.65 dividend. The ex-dividend date 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 currently 16.75%.
In other news, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares in the company, valued at $12,031,437.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the sale, the director now owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. 8.44% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of FDX. Sageworth Trust Co acquired a new stake in FedEx during the 2nd quarter valued at approximately $25,000. Evolution Wealth Advisors LLC acquired a new stake in FedEx during the 1st quarter valued at approximately $31,000. Nelson Roberts Investment Advisors LLC acquired a new stake in FedEx during the 2nd quarter valued at approximately $34,000. Icon Wealth Partners LLC acquired a new stake in FedEx during the 1st quarter valued at approximately $38,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in FedEx during the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 71.34% of the company’s stock.
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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