Wells Fargo & Company Cuts FedEx (NYSE:FDX) Price Target to $220.00

FedEx (NYSE:FDX - Free Report) had its target price trimmed by Wells Fargo & Company from $260.00 to $220.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the shipping service provider's stock.

FDX has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. TD Cowen reduced their target price on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, March 21st. BNP Paribas upgraded shares of FedEx from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, January 16th. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and dropped their price target for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Finally, Piper Sandler downgraded FedEx to a "neutral" rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $297.71.

FedEx Price Performance

NYSE FDX traded down $4.24 on Tuesday, reaching $211.45. The company had a trading volume of 1,328,116 shares, compared to its average volume of 1,780,013. The firm's 50 day moving average price is $233.47 and its 200 day moving average price is $261.81. FedEx has a 12 month low of $194.30 and a 12 month high of $313.84. The stock has a market capitalization of $50.66 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.86 earnings per share. As a group, equities analysts predict that FedEx will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is 34.63%.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.87% of the company's stock.

Institutional Trading of FedEx

A number of hedge funds have recently bought and sold shares of the stock. JNBA Financial Advisors raised its position in shares of FedEx by 50.7% in the 1st quarter. JNBA Financial Advisors now owns 446 shares of the shipping service provider's stock worth $109,000 after acquiring an additional 150 shares in the last quarter. Alta Advisers Ltd raised its holdings in FedEx by 68.3% in the first quarter. Alta Advisers Ltd now owns 1,232 shares of the shipping service provider's stock worth $300,000 after purchasing an additional 500 shares in the last quarter. Red Door Wealth Management LLC lifted its position in shares of FedEx by 5.7% during the first quarter. Red Door Wealth Management LLC now owns 34,717 shares of the shipping service provider's stock valued at $8,463,000 after buying an additional 1,879 shares during the last quarter. Hills Bank & Trust Co boosted its holdings in shares of FedEx by 17.3% in the 1st quarter. Hills Bank & Trust Co now owns 2,535 shares of the shipping service provider's stock valued at $618,000 after buying an additional 374 shares in the last quarter. Finally, Skylands Capital LLC grew its position in shares of FedEx by 6.2% in the 1st quarter. Skylands Capital LLC now owns 9,000 shares of the shipping service provider's stock worth $2,194,000 after buying an additional 525 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.