FedEx (NYSE:FDX) had its price objective lifted by BMO Capital Markets from $265.00 to $270.00 in a research report issued on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the shipping service provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 7.54% from the company’s current price.
FDX has been the topic of several other reports. Cowen reaffirmed an “outperform” rating and set a $240.00 target price on shares of FedEx in a report on Friday, October 13th. Citigroup reaffirmed a “buy” rating and set a $235.00 target price on shares of FedEx in a report on Thursday, September 14th. Zacks Investment Research raised FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Bank of America reissued a “buy” rating and issued a $240.00 price objective on shares of FedEx in a research note on Wednesday, September 20th. Finally, Vetr downgraded FedEx to a “sell” rating and set a $204.84 price objective on the stock. in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $248.01.
Shares of FedEx (NYSE:FDX) traded up $8.53 on Wednesday, reaching $251.07. The company’s stock had a trading volume of 5,896,828 shares, compared to its average volume of 1,500,961. The firm has a market cap of $64,867.61, a P/E ratio of 20.31, a PEG ratio of 1.52 and a beta of 1.36. FedEx has a 52-week low of $182.89 and a 52-week high of $253.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57.
In related news, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Henry J. Maier sold 11,150 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the sale, the insider now directly owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders sold a total of 40,094 shares of company stock valued at $9,024,637 over the last ninety days. 8.45% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Advisors LLC increased its holdings in FedEx by 16.7% during the 2nd quarter. Strategic Advisors LLC now owns 2,138 shares of the shipping service provider’s stock worth $465,000 after purchasing an additional 306 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in FedEx during the 2nd quarter worth approximately $435,000. Stevens Capital Management LP increased its holdings in FedEx by 60.6% during the 2nd quarter. Stevens Capital Management LP now owns 39,340 shares of the shipping service provider’s stock worth $8,550,000 after purchasing an additional 14,845 shares in the last quarter. Vanguard Group Inc. increased its holdings in FedEx by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after purchasing an additional 492,840 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in FedEx by 1.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock worth $11,584,000 after purchasing an additional 707 shares in the last quarter. 75.60% of the stock is owned by hedge funds and other institutional investors.
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About FedEx
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.
