UBS Group Has Lowered Expectations for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its target price decreased by UBS Group from $311.00 to $297.00 in a report released on Wednesday morning, Marketbeat.com reports. UBS Group currently has a buy rating on the shipping service provider’s stock.

A number of other brokerages also recently issued reports on FDX. Cfra Research upgraded shares of FedEx to a “hold” rating in a report on Thursday, March 20th. Sanford C. Bernstein reduced their price target on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a report on Friday, June 13th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Bank of America reduced their price target on shares of FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Finally, Wells Fargo & Company lifted their price objective on shares of FedEx from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.00.

FedEx Stock Up 3.8%

Shares of FDX stock opened at $229.37 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market capitalization of $54.96 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.18 and a beta of 1.35. The company’s fifty day moving average price is $220.19 and its 200-day moving average price is $242.96. FedEx has a one year low of $194.30 and a one year high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.98 by $0.09. The company had revenue of $22.20 billion for 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 16.34%. During the same period in the previous year, the firm posted $5.41 EPS. Sell-side analysts expect that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be issued 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 is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.53%. FedEx’s dividend payout ratio (DPR) is presently 36.39%.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in FedEx during the 1st quarter valued at about $147,000. Farther Finance Advisors LLC lifted its holdings in FedEx by 27.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider’s stock valued at $538,000 after buying an additional 481 shares in the last quarter. Allianz SE bought a new stake in FedEx during the 4th quarter valued at about $18,342,000. Parvin Asset Management LLC bought a new stake in FedEx during the 4th quarter valued at about $281,000. Finally, Landscape Capital Management L.L.C. raised its holdings in shares of FedEx by 87.2% in the 4th quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider’s stock valued at $3,734,000 after purchasing an additional 6,180 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.