Citigroup Cuts FedEx (NYSE:FDX) Price Target to $259.00

FedEx (NYSE:FDX - Free Report) had its price target reduced by Citigroup from $267.00 to $259.00 in a research note published on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the shipping service provider's stock.

Several other equities analysts have also issued reports on the company. Stephens reissued an "overweight" rating and issued a $300.00 price target on shares of FedEx in a research note on Tuesday, May 20th. Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and dropped their price target for the company from $283.00 to $221.00 in a research note on Friday, March 21st. BMO Capital Markets dropped their price target on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research note on Monday, May 19th. Cfra Research raised FedEx to a "hold" rating in a research note on Thursday, March 20th. Finally, Wall Street Zen downgraded FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $285.17.

FedEx Trading Down 0.5%

Shares of FedEx stock traded down $1.01 during midday trading on Wednesday, reaching $220.99. The company had a trading volume of 4,708,661 shares, compared to its average volume of 1,848,012. FedEx has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. 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 stock has a fifty day moving average price of $219.48 and a 200 day moving average price of $243.71. The firm has a market cap of $52.95 billion, a PE ratio of 13.09, a P/E/G ratio of 1.13 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same period in the previous year, the firm earned $5.41 earnings per share. On average, equities analysts anticipate that FedEx will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The business also recently declared 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. The ex-dividend date is Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.62%. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is 36.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in FedEx by 1.4% in the first quarter. Vanguard Group Inc. now owns 20,489,161 shares of the shipping service provider's stock worth $4,994,848,000 after purchasing an additional 289,655 shares during the last quarter. Dodge & Cox boosted its position in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Geode Capital Management LLC boosted its position in FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the last quarter. Franklin Resources Inc. boosted its position in FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after purchasing an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. boosted its position in FedEx by 1.4% in the first quarter. Invesco Ltd. now owns 3,264,993 shares of the shipping service provider's stock worth $795,940,000 after purchasing an additional 43,989 shares during the last quarter. Hedge funds and other 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.