FedEx (NYSE:FDX) Price Target Lowered to $332.00 at The Goldman Sachs Group

FedEx (NYSE:FDX) had its price target cut by investment analysts at The Goldman Sachs Group from $333.00 to $332.00 in a research note issued to investors on Friday. The Goldman Sachs Group’s price objective indicates a potential upside of 27.01% from the company’s previous close.

FDX has been the subject of several other reports. Wells Fargo & Company raised their price target on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Bernstein Bank upped their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday. Evercore ISI cut their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday. Argus boosted their price target on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have given 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 $313.12.

FedEx Stock Down 13.0 %

Shares of FedEx stock opened at $261.40 on Friday. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84. 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 50-day moving average of $293.32 and a 200 day moving average of $274.80. The firm has a market cap of $64.33 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.03 and a beta of 1.17.

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

Insider Buying and Selling

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 transaction of $607,821.94. Following 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 SEC, which is available at this link. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

Hedge funds and other institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC raised its stake in shares of FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares in the last quarter. LRI Investments LLC raised its holdings in shares of FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC lifted its position in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC boosted its holdings in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC grew its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the period. Institutional investors 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.