FedEx (NYSE:FDX) has been assigned a $306.00 target price by stock analysts at Stephens in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the shipping service provider’s stock. Stephens’ price target would suggest a potential upside of 26.16% from the stock’s current price.
FDX has been the subject of several other reports. Vetr lowered shares of FedEx to a “sell” rating and set a $204.84 price objective for the company. in a report on Thursday, August 31st. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a report on Monday, November 27th. BMO Capital Markets reissued a “buy” rating and set a $245.00 price objective on shares of FedEx in a report on Wednesday, September 6th. Bank of America reissued a “buy” rating and set a $247.00 price objective (up from $240.00) on shares of FedEx in a report on Friday, October 6th. Finally, Citigroup restated a “buy” rating and issued a $235.00 price target on shares of FedEx in a research report on Thursday, September 14th. One research 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 target price of $246.65.
Shares of FedEx (FDX) traded up $0.63 during mid-day trading on Wednesday, reaching $242.54. 2,329,900 shares of the company’s stock traded hands, compared to its average volume of 1,482,946. The firm has a market cap of $64,867.61, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.52 and a beta of 1.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63. FedEx has a 52 week low of $182.89 and a 52 week high of $243.75.
In related news, CEO Michael L. Ducker sold 14,964 shares of FedEx stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares in the company, valued at approximately $12,059,712.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kim Jabal sold 3,980 shares of FedEx stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total transaction of $897,689.00. Following the completion of the sale, the director now owns 6,080 shares in the company, valued at $1,371,344. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,094 shares of company stock worth $9,024,637. 8.45% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of 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 buying an additional 492,840 shares in the last quarter. FMR LLC raised its position in shares of FedEx by 0.3% during the 2nd quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after buying an additional 15,382 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of FedEx by 7.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after buying an additional 266,660 shares in the last quarter. Capital World Investors raised its position in shares of FedEx by 16.1% during the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after buying an additional 501,617 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of FedEx by 3.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock worth $814,875,000 after buying an additional 116,500 shares in the last quarter. Institutional investors own 75.60% of the company’s stock.
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.
