FedEx (NYSE:FDX) Price Target Cut to $321.00

FedEx (NYSE:FDX) had its price objective dropped by Stifel Nicolaus from $327.00 to $321.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 25.39% from the company’s previous close.

A number of other research analysts also recently commented on the company. Argus increased their target price on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. The Goldman Sachs Group reduced their price objective on FedEx from $333.00 to $332.00 in a research note on Friday. Bank of America dropped their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday. Susquehanna decreased their price target on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday. Finally, Wells Fargo & Company raised their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $313.24.

FedEx Stock Down 14.8 %

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

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

Insider Buying and Selling

In other news, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Several large investors have recently added to or reduced their stakes in the company. Capital International Investors boosted its position in shares of FedEx by 32.5% in the first 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 during the period. Sentry LLC purchased a new stake in FedEx in the 4th quarter worth about $307,007,000. Vanguard Group Inc. boosted its position in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Putnam Investments LLC grew its stake in FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares in the last quarter. Finally, Mawer Investment Management Ltd. increased its holdings in shares of FedEx by 43.5% in the 1st 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 during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

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.