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

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

A number of other analysts also recently commented on FDX. Raymond James downgraded FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. Bank of America decreased their price target on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research report on Friday. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. decreased their price target on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Wells Fargo & Company decreased their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $301.60.

FedEx Stock Down 6.5 %

Shares of NYSE:FDX opened at $230.25 on Friday. The business’s 50 day simple moving average is $259.95 and its two-hundred day simple moving average is $272.64. The firm has a market cap of $55.46 billion, a P/E ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx has a 52-week low of $217.22 and a 52-week high of $313.84.

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

FedEx Dividend Announcement

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

Insider Activity at FedEx

In other news, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FedEx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI boosted its holdings in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares in the last quarter. Regal Investment Advisors LLC boosted its holdings in FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after acquiring an additional 38 shares during the period. Cetera Trust Company N.A boosted its holdings in FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after acquiring an additional 40 shares during the period. Griffin Asset Management Inc. boosted its holdings in FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after acquiring an additional 40 shares during the period. Finally, Aviso Financial Inc. boosted its holdings in FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after acquiring an additional 40 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

About FedEx

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.