FedEx (NYSE:FDX) Given New $240.00 Price Target at Barclays

FedEx (NYSE:FDXGet Rating) had its target price reduced by Barclays from $320.00 to $240.00 in a report released on Monday morning, The Fly reports. They currently have an overweight rating on the shipping service provider’s stock.

Other equities research analysts have also recently issued reports about the company. KeyCorp lifted their target price on FedEx from $300.00 to $325.00 and gave the company an overweight rating in a research note on Thursday, June 30th. Bank of America cut FedEx from a buy rating to a neutral rating and decreased their price objective for the stock from $275.00 to $186.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $320.00 price objective on FedEx in a research note on Monday. Credit Suisse Group decreased their price objective on FedEx from $314.00 to $246.00 and set an outperform rating for the company in a research note on Friday. Finally, UBS Group decreased their price objective on FedEx from $308.00 to $232.00 and set a buy rating for the company in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $241.57.

FedEx Trading Up 1.2 %

Shares of FDX opened at $162.90 on Monday. The stock has a fifty day moving average price of $221.14 and a two-hundred day moving average price of $217.99. The company has a market cap of $42.34 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.58 and a beta of 1.21. FedEx has a 52-week low of $155.00 and a 52-week high of $266.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43.

FedEx (NYSE:FDXGet Rating) last released its earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 EPS for the quarter, missing the consensus estimate of $6.91 by ($0.04). The firm had revenue of $24.39 billion during the quarter, compared to analyst estimates of $24.28 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. During the same period last year, the business posted $5.01 earnings per share. Analysts predict that FedEx will post 23 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be issued a $1.15 dividend. The ex-dividend date is Thursday, September 1st. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.82%. FedEx’s dividend payout ratio (DPR) is 32.17%.

Insider Activity

In other news, Director Amy B. Lane purchased 607 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were bought at an average cost of $228.12 per share, for a total transaction of $138,468.84. Following the completion of the acquisition, the director now directly owns 686 shares in the company, valued at approximately $156,490.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Brie Carere sold 11,235 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $228.85, for a total transaction of $2,571,129.75. Following the sale, the executive vice president now owns 16,366 shares in the company, valued at $3,745,359.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy B. Lane bought 607 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were bought at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the acquisition, the director now directly owns 686 shares of the company’s stock, valued at approximately $156,490.32. The disclosure for this purchase can be found here. Insiders have sold a total of 48,810 shares of company stock worth $11,199,898 over the last three months. Corporate insiders own 8.62% of the company’s stock.

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently bought and sold shares of FDX. Activest Wealth Management increased its position in FedEx by 121.6% during the second quarter. Activest Wealth Management now owns 113 shares of the shipping service provider’s stock worth $26,000 after buying an additional 62 shares during the last quarter. Holloway Wealth Management LLC acquired a new position in FedEx during the first quarter worth approximately $29,000. American National Bank increased its position in FedEx by 206.7% during the second quarter. American National Bank now owns 138 shares of the shipping service provider’s stock worth $31,000 after buying an additional 93 shares during the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new position in FedEx during the first quarter worth approximately $35,000. Finally, Byrne Asset Management LLC acquired a new position in FedEx during the fourth quarter worth approximately $36,000. Institutional investors own 71.62% of the company’s stock.

About FedEx

(Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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