FedEx (NYSE:FDX) Price Target Cut to $245.00 by Analysts at Bank of America

FedEx (NYSE:FDX) had its price target decreased by Bank of America from $270.00 to $245.00 in a report released on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the shipping service provider’s stock.

FDX has been the subject of several other reports. Stifel Nicolaus cut their price target on shares of FedEx from $354.00 to $329.00 and set a “buy” rating for the company in a report on Tuesday. Citigroup decreased their target price on shares of FedEx from $267.00 to $259.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of FedEx from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Barclays decreased their price objective on shares of FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $285.75.

FedEx Stock Down 3.2%

FDX opened at $222.07 on Wednesday. The company has a 50 day moving average of $219.48 and a 200 day moving average of $243.71. The company has a market cap of $53.21 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. FedEx has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping the consensus estimate of $5.98 by $0.09. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.54%. During the same period last year, the firm earned $5.41 EPS. On average, sell-side analysts expect that FedEx will post 19.14 EPS for the current year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be given a dividend of $1.45 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.61%. FedEx’s dividend payout ratio is currently 36.39%.

Hedge Funds Weigh In On FedEx

Several institutional investors have recently bought and sold shares of FDX. Regal Investment Advisors LLC lifted its stake in shares of FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after purchasing an additional 38 shares during the period. Aviso Financial Inc. increased its holdings in FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after acquiring an additional 40 shares in the last quarter. Garner Asset Management Corp increased its holdings in FedEx by 0.7% in the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock worth $1,659,000 after acquiring an additional 41 shares in the last quarter. Curi RMB Capital LLC increased its holdings in FedEx by 1.3% in the 4th quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider’s stock worth $1,017,000 after acquiring an additional 47 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its holdings in shares of FedEx by 2.6% during the first quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider’s stock worth $457,000 after buying an additional 48 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

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.