FedEx (NYSE:FDX) received a $275.00 price target from Wells Fargo & Company in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the shipping service provider’s stock. Wells Fargo & Company’s price target suggests a potential upside of 9.53% from the company’s current price.
A number of other brokerages have also recently weighed in on FDX. BMO Capital Markets raised their price objective on shares of FedEx from $265.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday. Credit Suisse Group reissued an “outperform” rating and set a $278.00 price objective (up from $233.00) on shares of FedEx in a research note on Thursday, December 14th. Cowen reissued an “outperform” rating and set a $280.00 price objective (up from $240.00) on shares of FedEx in a research note on Monday. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Citigroup raised their price objective on shares of FedEx to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, six have given 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 (NYSE:FDX) traded up $8.53 during trading on Wednesday, reaching $251.07. 5,896,577 shares of the company’s stock were exchanged, compared to its average volume of 1,500,961. FedEx has a 12 month low of $182.89 and a 12 month high of $253.24. 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 stock has a market capitalization of $64,867.61, a PE ratio of 20.31, a PEG ratio of 1.52 and a beta of 1.36.
In other news, EVP Donald F. Colleran sold 10,000 shares of the firm’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 transaction, the executive vice president now owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the completion of the transaction, the chief executive officer now directly owns 53,397 shares in the company, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,094 shares of company stock worth $9,024,637. 8.45% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Salem Investment Counselors Inc. raised its stake in shares of FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after acquiring an additional 13 shares during the period. Krilogy Financial LLC raised its stake in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after acquiring an additional 2 shares during the period. FNY Managed Accounts LLC purchased a new position in shares of FedEx in the 1st quarter valued at $100,000. Alexandria Capital LLC raised its stake in shares of FedEx by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares during the period. Finally, Financial Engines Advisors L.L.C. purchased a new position in shares of FedEx in the 3rd quarter valued at $132,000. 75.60% of the stock is currently owned by institutional investors and hedge funds.
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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.
