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

FedEx (NYSE:FDX) had its price objective dropped by analysts at TD Cowen from $334.00 to $328.00 in a report released on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the shipping service provider’s stock. TD Cowen’s price objective indicates a potential upside of 9.19% from the stock’s current price.

FDX has been the subject of a number of other reports. Bank of America dropped their price target on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday. Raymond James cut their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $215.00 to $200.00 in a research note on Friday. Stephens reissued an “overweight” rating and issued a $325.00 price objective on shares of FedEx in a research note on Wednesday, June 26th. Finally, Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $311.63.

FedEx Stock Performance

Shares of FedEx stock opened at $300.39 on Friday. The business has a fifty day simple moving average of $293.32 and a two-hundred day simple moving average of $274.80. The firm has a market capitalization of $73.92 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx has a 12 month low of $224.69 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (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 the consensus estimate of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $4.55 earnings per share. On average, equities analysts forecast that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Activity at FedEx

In other news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction 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 transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 over the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

Institutional Trading of FedEx

A number of institutional investors have recently added to or reduced their stakes in the business. Precision Wealth Strategies LLC acquired a new position in FedEx in the 4th quarter valued at $324,000. Quest Partners LLC bought a new position in shares of FedEx in the fourth quarter worth about $267,000. Franklin Resources Inc. lifted its position in shares of FedEx by 38.6% during the 4th quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock worth $38,934,000 after purchasing an additional 42,844 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in FedEx by 3.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock valued at $15,283,000 after purchasing an additional 2,051 shares during the period. Finally, US Bancorp DE grew its holdings in FedEx by 3.6% in the 4th quarter. US Bancorp DE now owns 113,778 shares of the shipping service provider’s stock valued at $28,782,000 after buying an additional 3,955 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.