FedEx (NYSE:FDX) had its price objective raised by equities researchers at Loop Capital to $318.00 in a research note issued on Thursday. Loop Capital’s price objective would indicate a potential upside of 19.58% from the stock’s current price.
A number of other brokerages have also recently commented on FDX. Zacks Investment Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $272.00 price target for the company in a research note on Thursday, December 21st. Stephens set a $306.00 price target on shares of FedEx and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Argus raised their price target on shares of FedEx from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday, December 26th. ValuEngine upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, BMO Capital Markets raised their price target on shares of FedEx from $265.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $265.91.
Shares of FedEx (NYSE FDX) traded up $1.04 on Thursday, reaching $265.92. 2,860,000 shares of the company’s stock were exchanged, compared to its average volume of 1,890,000. The company has a market capitalization of $71,240.00, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.36. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. FedEx has a 1 year low of $182.89 and a 1 year high of $271.39.
In related news, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the completion of the sale, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction 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 approximately $8,395,219.62. The disclosure for this sale can be found here. In the last three months, insiders sold 65,655 shares of company stock valued at $16,334,753. 8.45% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of FDX. Davis Selected Advisers grew its holdings 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 worth $366,118,000 after acquiring an additional 1,223,646 shares during the period. Janus Henderson Group PLC grew its holdings 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 worth $191,934,000 after acquiring an additional 699,728 shares during the period. Jackson Square Partners LLC grew its holdings 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 worth $631,525,000 after acquiring an additional 647,401 shares during the period. Winslow Capital Management LLC acquired a new stake in FedEx during the 2nd quarter worth $138,993,000. Finally, TIAA CREF Investment Management LLC grew its holdings in FedEx by 41.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,969,884 shares of the shipping service provider’s stock worth $428,115,000 after acquiring an additional 573,392 shares during the period. 75.60% of the stock is owned by institutional investors and hedge funds.
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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.
