FedEx (NYSE:FDX) Price Target Lowered to $297.00 at UBS Group

FedEx (NYSE:FDX) had its price objective lowered by UBS Group from $311.00 to $297.00 in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the shipping service provider’s stock.

A number of other brokerages also recently commented on FDX. TD Cowen reduced their price objective on shares of FedEx from $310.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday. Sanford C. Bernstein dropped their price objective on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating for the company in a research note on Friday, June 13th. Stifel Nicolaus dropped their price objective on shares of FedEx from $354.00 to $329.00 and set a “buy” rating for the company in a research note on Tuesday. Wall Street Zen cut shares of FedEx from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Barclays lowered their target price on shares of FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $285.75.

FedEx Price Performance

Shares of NYSE:FDX opened at $222.07 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.73. The company has a market cap of $53.21 billion, a P/E ratio of 13.16, a PEG ratio of 1.15 and a beta of 1.35. FedEx has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a 50-day moving average price of $219.48 and a 200 day moving average price of $243.71.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating analysts’ consensus estimates of $5.98 by $0.09. The firm 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 quarter last year, the firm earned $5.41 earnings per share. Research analysts predict that FedEx will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

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

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently bought and sold shares of the business. Brighton Jones LLC raised its stake in shares of FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after purchasing an additional 207 shares in the last quarter. IFP Advisors Inc raised its stake in shares of FedEx by 10.7% in the 4th quarter. IFP Advisors Inc now owns 6,773 shares of the shipping service provider’s stock valued at $1,906,000 after purchasing an additional 652 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of FedEx in the 4th quarter valued at about $227,000. Delta Financial Advisors LLC raised its stake in shares of FedEx by 0.9% in the 4th quarter. Delta Financial Advisors LLC now owns 7,235 shares of the shipping service provider’s stock valued at $2,035,000 after purchasing an additional 65 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of FedEx in the 4th quarter valued at about $672,000. Institutional investors and hedge funds 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.