FedEx (NYSE:FDX) Given New $337.00 Price Target at TD Cowen

FedEx (NYSE:FDX) had its price target raised by TD Cowen from $328.00 to $337.00 in a research report report published on Friday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the shipping service provider’s stock.

Other equities research analysts have also issued reports about the company. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Raymond James dropped their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Stephens reissued an “overweight” rating and set a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. Evercore ISI dropped their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.88.

FedEx Trading Down 0.1 %

NYSE FDX opened at $275.73 on Friday. The firm has a market capitalization of $67.37 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. FedEx has a one year low of $234.45 and a one year high of $313.84. The company has a 50-day simple moving average of $282.71 and a 200-day simple moving average of $281.85. 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) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.99 earnings per share. On average, equities analysts forecast that FedEx will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Hedge Funds Weigh In On FedEx

A number of hedge funds and other institutional investors have recently modified their holdings of FDX. Principal Financial Group Inc. raised its holdings in FedEx by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 256,870 shares of the shipping service provider’s stock worth $70,300,000 after buying an additional 10,063 shares during the period. DGS Capital Management LLC raised its holdings in shares of FedEx by 10.7% during the third quarter. DGS Capital Management LLC now owns 1,405 shares of the shipping service provider’s stock valued at $385,000 after acquiring an additional 136 shares during the period. Franklin Resources Inc. lifted its position in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after acquiring an additional 314,380 shares in the last quarter. Synovus Financial Corp boosted its stake in FedEx by 251.8% in the 3rd quarter. Synovus Financial Corp now owns 14,936 shares of the shipping service provider’s stock worth $4,087,000 after purchasing an additional 10,690 shares during the period. Finally, Tidal Investments LLC grew its position in FedEx by 18.9% during the 3rd quarter. Tidal Investments LLC now owns 18,870 shares of the shipping service provider’s stock worth $5,164,000 after purchasing an additional 2,994 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

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.