TD Cowen Cuts FedEx (NYSE:FDX) Price Target to $310.00

FedEx (NYSE:FDX) had its target price trimmed by TD Cowen from $337.00 to $310.00 in a report issued on Friday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the shipping service provider’s stock.

Several other analysts have also recently commented on FDX. Raymond James cut FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. Truist Financial assumed coverage on FedEx in a report on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. Citigroup decreased their target price on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Stifel Nicolaus decreased their target price on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday. Finally, UBS Group upped their price target on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.67.

FedEx Stock Performance

Shares of NYSE:FDX opened at $230.25 on Friday. The business’s fifty day moving average price is $259.95 and its two-hundred day moving average price is $272.35. FedEx has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

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

FedEx Announces Dividend

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

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane purchased 333 shares of the stock in a transaction on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. bLong Financial LLC bought a new position in shares of FedEx during the fourth quarter worth about $391,000. Virtu Financial LLC bought a new position in shares of FedEx during the third quarter worth about $3,405,000. Lodestone Wealth Management LLC bought a new position in shares of FedEx during the fourth quarter worth about $461,000. Wedmont Private Capital grew its holdings in shares of FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares in the last quarter. Finally, GFS Advisors LLC bought a new position in shares of FedEx during the fourth quarter worth about $26,855,000. 84.47% of the stock is currently owned by institutional investors.

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.