FedEx (NYSE:FDX) Given New $310.00 Price Target at TD Cowen

FedEx (NYSE:FDX) had its target price decreased by TD Cowen from $337.00 to $310.00 in a research note released on Friday morning, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the shipping service provider’s stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus cut their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and cut their price objective for the company from $283.00 to $221.00 in a research report on Friday. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Citigroup cut their price objective on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $301.67.

FedEx Stock Down 6.5 %

FDX stock opened at $230.25 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $259.95 and a two-hundred day moving average price of $272.35. The company has a market cap of $55.46 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx has a twelve month low of $217.22 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) 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 business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the business earned $3.86 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts anticipate that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

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

Insider Activity

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

Institutional Investors Weigh In On FedEx

A number of hedge funds and other institutional investors have recently bought and sold shares of FDX. Fortitude Family Office LLC grew its position in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares during the last quarter. Transce3nd LLC bought a new stake in FedEx during the 4th quarter worth $26,000. Peoples Financial Services CORP. bought a new stake in FedEx during the 4th quarter worth $28,000. City Holding Co. bought a new stake in FedEx during the 4th quarter worth $28,000. Finally, Kentucky Trust Co bought a new stake in FedEx during the 4th quarter worth $28,000. Institutional investors own 84.47% of the company’s stock.

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.