Bernstein Bank Raises FedEx (NYSE:FDX) Price Target to $337.00

FedEx (NYSE:FDX) had its price target increased by analysts at Bernstein Bank from $305.00 to $337.00 in a research report issued on Friday. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. Bernstein Bank’s price target would suggest a potential upside of 28.92% from the stock’s current price.

A number of other brokerages have also issued reports on FDX. The Goldman Sachs Group increased their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Bank of America dropped their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday. Stephens reiterated an “overweight” rating and set a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. Finally, TD Cowen reduced their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.12.

FedEx Stock Down 13.0 %

FedEx stock opened at $261.40 on Friday. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84. The firm has a market cap of $64.33 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The business’s 50-day moving average price is $293.32 and its 200 day moving average price is $274.80. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the company posted $4.55 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx will post 20.82 earnings per share for the current year.

Insider Activity

In related news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 in the last 90 days. 8.73% of the stock is currently owned by corporate insiders.

Institutional Trading of FedEx

Hedge funds have recently bought and sold shares of the company. Precision Wealth Strategies LLC purchased a new stake in FedEx in the fourth quarter valued at approximately $324,000. Quest Partners LLC acquired a new position in FedEx in the fourth quarter valued at $267,000. Franklin Resources Inc. grew its position in FedEx by 38.6% during the fourth quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock valued at $38,934,000 after acquiring an additional 42,844 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of FedEx by 3.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock worth $15,283,000 after purchasing an additional 2,051 shares during the period. Finally, US Bancorp DE lifted its stake in shares of 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 purchasing an additional 3,955 shares in the last quarter. Institutional investors and hedge funds 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.