FedEx Corporation (FDX) Receives “Buy” Rating from Cowen and Company

Cowen and Company reaffirmed their buy rating on shares of FedEx Corporation (NYSE:FDX) in a research note published on Tuesday morning. The firm currently has a $240.00 price objective on the shipping service provider’s stock.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of FedEx Corporation from a hold rating to a buy rating and set a $215.00 target price for the company in a report on Tuesday, May 23rd. Vetr upgraded shares of FedEx Corporation from a hold rating to a buy rating and set a $195.86 target price for the company in a report on Wednesday, May 17th. J P Morgan Chase & Co reiterated an overweight rating and issued a $237.00 target price on shares of FedEx Corporation in a report on Wednesday, June 21st. Credit Suisse Group boosted their target price on shares of FedEx Corporation from $225.00 to $237.00 and gave the stock an outperform rating in a report on Wednesday, June 21st. Finally, Oppenheimer Holdings, Inc. boosted their target price on shares of FedEx Corporation from $218.00 to $229.00 and gave the stock an outperform rating in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $221.72.

FedEx Corporation (FDX) opened at 215.54 on Tuesday. The company has a market capitalization of $57.82 billion, a price-to-earnings ratio of 19.47 and a beta of 1.28. FedEx Corporation has a 52 week low of $158.20 and a 52 week high of $219.99. The company has a 50 day moving average of $209.41 and a 200 day moving average of $201.46.

FedEx Corporation (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 earnings per share. On average, equities analysts forecast that FedEx Corporation will post $13.53 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, September 8th. FedEx Corporation’s payout ratio is 18.08%.

In related news, Director John A. Edwardson sold 2,208 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the transaction, the director now directly owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kim Jabal sold 609 shares of the stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $216.13, for a total value of $131,623.17. Following the completion of the transaction, the director now directly owns 2,100 shares of the company’s stock, valued at $453,873. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,757 shares of company stock valued at $16,447,426. Corporate insiders own 8.45% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its stake in FedEx Corporation by 2.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock valued at $13,641,000 after purchasing an additional 1,852 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in FedEx Corporation by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock valued at $11,584,000 after purchasing an additional 707 shares during the last quarter. Handelsbanken Fonder AB acquired a new position in FedEx Corporation in the 2nd quarter valued at $435,000. Madison Investment Holdings Inc. raised its stake in FedEx Corporation by 63.6% in the 1st quarter. Madison Investment Holdings Inc. now owns 181,250 shares of the shipping service provider’s stock valued at $35,371,000 after purchasing an additional 70,436 shares during the last quarter. Finally, Harbour Capital Advisors LLC raised its stake in FedEx Corporation by 21,011.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock valued at $6,556,000 after purchasing an additional 1,418,066 shares during the last quarter. 75.86% of the stock is owned by hedge funds and other institutional investors.

About FedEx Corporation

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Analyst Recommendations for FedEx Corporation (NYSE:FDX)

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