Stifel Nicolaus cut shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a research report released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has $171.00 target price on the shipping service provider’s stock, down from their previous target price of $185.00.
Other equities analysts have also issued research reports about the stock. Bank of America dropped their price objective on shares of FedEx from $188.00 to $173.00 and set a neutral rating on the stock in a report on Friday, May 31st. Sanford C. Bernstein set a $205.00 target price on shares of FedEx and gave the stock a buy rating in a research report on Thursday, June 20th. Barclays reissued a buy rating and set a $185.00 target price on shares of FedEx in a research report on Thursday, June 13th. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $184.00 to $172.00 and set a neutral rating for the company in a research report on Wednesday, June 26th. Finally, TheStreet downgraded shares of FedEx from a b- rating to a c+ rating in a research report on Thursday, June 6th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. FedEx currently has an average rating of Hold and an average price target of $175.56.
Shares of NYSE FDX opened at $148.78 on Wednesday. The firm’s 50-day moving average price is $160.17 and its 200-day moving average price is $170.42. FedEx has a 1-year low of $147.82 and a 1-year high of $250.95. The firm has a market capitalization of $39.37 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.81 and a beta of 1.69. The company has a current ratio of 1.31, a quick ratio of 1.39 and a debt-to-equity ratio of 1.70.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, September 6th. FedEx’s payout ratio is 16.75%.
In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the company’s 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 directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Carter sold 23,100 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now directly owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. Corporate insiders own 8.44% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Sageworth Trust Co bought a new stake in FedEx in the 2nd quarter worth about $25,000. Evolution Wealth Advisors LLC bought a new stake in FedEx in the 1st quarter worth about $31,000. Nelson Roberts Investment Advisors LLC bought a new stake in FedEx in the 2nd quarter worth about $34,000. Icon Wealth Partners LLC bought a new stake in FedEx in the 1st quarter worth about $38,000. Finally, Sumitomo Mitsui Financial Group Inc. bought a new stake in FedEx in the 2nd quarter worth about $39,000. 71.34% of the stock is owned by institutional investors and hedge funds.
FedEx Company Profile
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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