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

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

Several other research firms have also commented on FDX. UBS Group reduced their price target on FedEx from $308.00 to $232.00 and set a buy rating on the stock in a research report on Friday. StockNews.com lowered FedEx from a strong-buy rating to a buy rating in a research report on Tuesday, June 21st. Citigroup reduced their price target on FedEx from $225.00 to $180.00 and set a neutral rating on the stock in a research report on Friday. BMO Capital Markets reduced their price target on FedEx from $270.00 to $215.00 and set a market perform rating on the stock in a research report on Friday. Finally, Bank of America lowered FedEx from a buy rating to a neutral rating and reduced their price target for the stock from $275.00 to $186.00 in a research report on Friday. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $241.57.

FedEx Stock Up 1.2 %

Shares of NYSE:FDX opened at $162.90 on Monday. 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 has a 1 year low of $155.00 and a 1 year high of $266.79. The stock has a market capitalization of $42.34 billion, a P/E ratio of 11.39, a PEG ratio of 0.58 and a beta of 1.21. The stock has a 50-day simple moving average of $221.14 and a 200-day simple moving average of $217.99.

FedEx (NYSE:FDXGet Rating) last issued its earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.91 by ($0.04). FedEx had a return on equity of 22.29% and a net margin of 4.09%. The firm had revenue of $24.39 billion for the quarter, compared to analysts’ expectations of $24.28 billion. During the same quarter in the previous year, the firm posted $5.01 EPS. Equities analysts forecast that FedEx will post 23 earnings per share for the current year.

FedEx Announces Dividend

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

Insider Transactions at FedEx

In other news, EVP Brie Carere sold 11,235 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $228.85, for a total value of $2,571,129.75. Following the completion of the transaction, the executive vice president now owns 16,366 shares of the company’s stock, valued at $3,745,359.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Brie Carere sold 11,235 shares of the firm’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 completion of the transaction, the executive vice president now owns 16,366 shares of the company’s stock, valued at $3,745,359.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy B. Lane bought 607 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were purchased at an average cost of $228.12 per share, with a total value of $138,468.84. Following the purchase, the director now directly owns 686 shares of the company’s stock, valued at $156,490.32. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 48,810 shares of company stock valued at $11,199,898. 8.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Activest Wealth Management boosted its stake in FedEx by 121.6% during the second quarter. Activest Wealth Management now owns 113 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. Holloway Wealth Management LLC purchased a new stake in shares of FedEx during the first quarter valued at $29,000. American National Bank lifted its holdings in shares of FedEx by 206.7% during the second quarter. American National Bank now owns 138 shares of the shipping service provider’s stock valued at $31,000 after purchasing an additional 93 shares during the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of FedEx during the first quarter valued at $35,000. Finally, Byrne Asset Management LLC purchased a new stake in shares of FedEx during the fourth quarter valued at $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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