TD Cowen Has Lowered Expectations for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price target reduced by stock analysts at TD Cowen from $337.00 to $310.00 in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. TD Cowen’s target price would suggest a potential upside of 26.02% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Stephens decreased their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Stifel Nicolaus reduced their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday. Finally, BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $310.48.

FedEx Price Performance

Shares of NYSE:FDX opened at $246.00 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a fifty day moving average price of $260.76 and a 200 day moving average price of $273.11. FedEx has a fifty-two week low of $223.38 and a fifty-two week high of $313.84. The firm has a market cap of $59.25 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings results 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). The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.86 EPS. As a group, sell-side analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Activity at FedEx

In related news, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

Institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC raised 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 buying an additional 52 shares during the last quarter. Transce3nd LLC purchased a new position in FedEx during the 4th quarter worth approximately $26,000. Peoples Financial Services CORP. purchased a new position in FedEx during the 4th quarter worth approximately $28,000. City Holding Co. purchased a new position in FedEx during the 4th quarter worth approximately $28,000. Finally, Kentucky Trust Co purchased a new position in FedEx during the 4th quarter worth approximately $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.