Weekly Research Analysts’ Ratings Updates for FedEx (FDX)

Posted by MarketBeat News on Oct 3rd, 2024

FedEx (NYSE: FDX) recently received a number of ratings updates from brokerages and research firms:

9/28/2024 – FedEx was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
9/23/2024 – FedEx had its price target lowered by analysts at Loop Capital from $317.00 to $288.00. They now have a “hold” rating on the stock.
9/20/2024 – FedEx was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $200.00 price target on the stock, down previously from $215.00.
9/20/2024 – FedEx had its price target lowered by analysts at Susquehanna from $345.00 to $330.00. They now have a “positive” rating on the stock.
9/20/2024 – FedEx had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $350.00 price target on the stock.
9/20/2024 – FedEx had its price target lowered by analysts at JPMorgan Chase & Co. from $359.00 to $350.00. They now have an “overweight” rating on the stock.
9/20/2024 – FedEx had its price target raised by analysts at Bernstein Bank from $305.00 to $337.00. They now have an “overweight” rating on the stock.
9/20/2024 – FedEx had its price target lowered by analysts at Evercore ISI from $335.00 to $318.00. They now have an “outperform” rating on the stock.
9/20/2024 – FedEx had its price target lowered by analysts at Robert W. Baird from $340.00 to $320.00. They now have an “outperform” rating on the stock.
9/20/2024 – FedEx had its price target lowered by analysts at BMO Capital Markets from $325.00 to $300.00. They now have a “market perform” rating on the stock.
9/20/2024 – FedEx was downgraded by analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating.
9/20/2024 – FedEx was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
9/20/2024 – FedEx was downgraded by analysts at HSBC Holdings plc from a “buy” rating to a “hold” rating. They now have a $300.00 price target on the stock.
9/20/2024 – FedEx had its price target lowered by analysts at Stifel Nicolaus from $327.00 to $321.00. They now have a “buy” rating on the stock.
9/20/2024 – FedEx had its price target lowered by analysts at UBS Group AG from $333.00 to $311.00. They now have a “buy” rating on the stock.
9/20/2024 – FedEx had its price target lowered by analysts at Raymond James from $335.00 to $330.00. They now have a “buy” rating on the stock.
9/20/2024 – FedEx had its price target lowered by analysts at TD Cowen from $334.00 to $328.00. They now have a “buy” rating on the stock.
9/20/2024 – FedEx had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $333.00 to $332.00.
9/18/2024 – FedEx had its price target lowered by analysts at Bank of America Co. from $347.00 to $345.00. They now have a “buy” rating on the stock.
9/13/2024 – FedEx had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $340.00 price target on the stock.
9/12/2024 – FedEx had its price target lowered by analysts at Evercore ISI from $339.00 to $335.00. They now have an “outperform” rating on the stock.
9/11/2024 – FedEx was downgraded by analysts at Daiwa America from a “moderate buy” rating to a “hold” rating.
8/24/2024 – FedEx was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
8/22/2024 – FedEx is now covered by analysts at TD Cowen. They set a “buy” rating and a $334.00 price target on the stock.
8/16/2024 – FedEx was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
8/7/2024 – FedEx was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.

FedEx Price Performance

Shares of NYSE FDX opened at $266.93 on Thursday. The stock’s 50-day simple moving average is $286.13 and its 200-day simple moving average is $275.85. The firm has a market capitalization of $65.69 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.55 EPS. As a group, equities research analysts forecast that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Announces Dividend

Want More Great Investing Ideas?

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Insider Activity at FedEx

In other FedEx news, Director Marvin R. Ellison sold 2,535 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $299.34, for a total value of $758,826.90. Following the completion of the sale, the director now owns 6,955 shares in the company, valued at $2,081,909.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marvin R. Ellison sold 2,535 shares of FedEx stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $299.34, for a total value of $758,826.90. Following the completion of the transaction, the director now owns 6,955 shares in the company, valued at $2,081,909.70. The disclosure for this sale can be found here. Insiders sold a total of 12,914 shares of company stock valued at $3,978,338 in the last three months. 8.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

A number of hedge funds and other institutional investors have recently bought and sold shares of FDX. Rafferty Asset Management LLC increased its stake in shares of FedEx by 6.3% during the fourth quarter. Rafferty Asset Management LLC now owns 22,649 shares of the shipping service provider’s stock worth $5,730,000 after acquiring an additional 1,346 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in FedEx by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 31,480 shares of the shipping service provider’s stock valued at $7,963,000 after purchasing an additional 700 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in FedEx during the 4th quarter worth approximately $411,000. Tower Research Capital LLC TRC raised its stake in shares of FedEx by 61.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 25,199 shares of the shipping service provider’s stock worth $6,375,000 after buying an additional 9,559 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of FedEx by 20.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after buying an additional 5,055 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.