TD Cowen Lowers FedEx (NYSE:FDX) Price Target to $328.00

FedEx (NYSE:FDX) had its target price decreased by TD Cowen from $334.00 to $328.00 in a research report released on Friday, MarketBeat reports. TD Cowen currently has a buy rating on the shipping service provider’s stock.

A number of other brokerages have also issued reports on FDX. Robert W. Baird cut their price target on shares of FedEx from $340.00 to $320.00 and set an outperform rating on the stock in a research note on Friday. Bank of America lowered their target price on FedEx from $347.00 to $345.00 and set a buy rating for the company in a research note on Wednesday, September 18th. Oppenheimer reissued a market perform rating on shares of FedEx in a research report on Wednesday, June 26th. Argus lifted their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Finally, Stephens reiterated an overweight rating and issued a $325.00 price objective on shares of FedEx in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, FedEx currently has an average rating of Moderate Buy and an average target price of $314.74.

FedEx Stock Performance

NYSE:FDX opened at $258.82 on Friday. The company’s 50-day moving average is $291.50 and its two-hundred day moving average is $275.28. The firm has a market capitalization of $63.69 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx has a 1-year low of $224.69 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company earned $4.55 EPS. Analysts forecast that FedEx will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently modified their holdings of FDX. SeaCrest Wealth Management LLC grew its holdings in FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC lifted its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares in the last quarter. Ascent Wealth Partners LLC boosted its holdings in FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC grew its stake in FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC increased its holdings in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 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.