FedEx (NYSE:FDX) Given New $330.00 Price Target at Susquehanna

FedEx (NYSE:FDX) had its price objective dropped by stock analysts at Susquehanna from $345.00 to $330.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the shipping service provider’s stock. Susquehanna’s price target points to a potential upside of 28.90% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. The Goldman Sachs Group decreased their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $313.24.

FedEx Stock Down 14.8 %

Shares of FDX traded down $44.38 during mid-day trading on Friday, hitting $256.01. 6,226,254 shares of the company’s stock were exchanged, compared to its average volume of 1,794,393. The company has a 50-day simple moving average of $293.32 and a 200 day simple moving average of $274.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The company has a market cap of $63.00 billion, a PE ratio of 14.86, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company 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 firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.55 earnings per share. On average, research analysts forecast that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Buying and Selling at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, 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 have sold a total of 32,944 shares of company stock worth $9,882,355 over the last 90 days. Insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares during the period. Capital International Investors boosted its holdings in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares in the last quarter. Putnam Investments LLC grew its holdings in FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares during the period. Mawer Investment Management Ltd. increased its stake in FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.