Wells Fargo & Company Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price target reduced by Wells Fargo & Company from $275.00 to $260.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the shipping service provider’s stock.

A number of other research analysts have also issued reports on FDX. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Citigroup lowered their target price on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research report on Tuesday. Truist Financial assumed coverage on shares of FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. Stifel Nicolaus lowered their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and lowered their target price for the stock from $283.00 to $221.00 in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $301.60.

FedEx Trading Down 6.5 %

Shares of FedEx stock opened at $230.25 on Friday. FedEx has a 52-week low of $217.22 and a 52-week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company’s 50-day simple moving average is $259.95 and its 200-day simple moving average is $272.64. The firm has a market cap of $55.46 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter last year, the firm earned $3.86 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI boosted its holdings in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after buying an additional 38 shares during the period. Regal Investment Advisors LLC raised its position in shares of FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after buying an additional 38 shares in the last quarter. Cetera Trust Company N.A raised its position in shares of FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after buying an additional 40 shares in the last quarter. Griffin Asset Management Inc. raised its holdings in shares of FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after purchasing an additional 40 shares in the last quarter. Finally, Aviso Financial Inc. raised its holdings in shares of 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 purchasing an additional 40 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

About FedEx

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.