FedEx (NYSE:FDX) has been assigned a $236.00 price target by analysts at Sanford C. Bernstein in a research note issued on Wednesday. The brokerage currently has a “hold” rating on the shipping service provider’s stock. Sanford C. Bernstein’s target price would suggest a potential downside of 2.70% from the stock’s previous close.
Several other equities analysts also recently issued reports on FDX. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Vetr downgraded FedEx to a “sell” rating and set a $204.84 target price for the company. in a research report on Thursday, August 31st. BMO Capital Markets restated a “buy” rating and issued a $245.00 target price on shares of FedEx in a research report on Wednesday, September 6th. Cowen restated a “buy” rating and issued a $240.00 target price on shares of FedEx in a research report on Tuesday, September 12th. Finally, Robert W. Baird restated a “buy” rating and issued a $235.00 target price on shares of FedEx in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $248.01.
Shares of FedEx (FDX) traded up $0.63 during midday trading on Wednesday, hitting $242.54. The stock had a trading volume of 2,329,900 shares, compared to its average volume of 1,482,946. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63. The firm has a market capitalization 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 fifty-two week low of $182.89 and a fifty-two week high of $243.75.
In other FedEx news, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value of $897,689.00. Following the transaction, the director now owns 6,080 shares of the company’s stock, valued at $1,371,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The disclosure for this sale can be found here. Insiders sold 40,094 shares of company stock worth $9,024,637 in the last ninety days. 8.45% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in FDX. Harbour Capital Advisors LLC raised its stake in FedEx by 21,011.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock valued at $6,556,000 after purchasing an additional 1,418,066 shares during the period. Davis Selected Advisers raised its stake in FedEx by 265.4% during the 2nd quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock valued at $366,118,000 after purchasing an additional 1,223,646 shares during the period. Janus Henderson Group PLC raised its stake in FedEx by 381.6% during the 2nd quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock valued at $191,934,000 after purchasing an additional 699,728 shares during the period. Jackson Square Partners LLC raised its stake in FedEx by 28.7% during the 2nd quarter. Jackson Square Partners LLC now owns 2,905,839 shares of the shipping service provider’s stock valued at $631,525,000 after purchasing an additional 647,401 shares during the period. Finally, Winslow Capital Management LLC acquired a new stake in FedEx during the 2nd quarter valued at $138,993,000. 75.60% of the stock is currently owned by institutional investors.
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FedEx Company Profile
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.
