FedEx (NYSE:FDX) had its target price raised by stock analysts at Stifel Nicolaus from $221.00 to $272.00 in a research note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the shipping service provider’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 8.71% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Citigroup reaffirmed a “buy” rating and issued a $235.00 price objective on shares of FedEx in a research note on Thursday, September 14th. Robert W. Baird reiterated a “buy” rating and issued a $235.00 target price on shares of FedEx in a report on Tuesday, September 12th. Cowen reiterated a “buy” rating and issued a $240.00 target price on shares of FedEx in a report on Tuesday, September 12th. BMO Capital Markets reiterated a “buy” rating and issued a $245.00 target price on shares of FedEx in a report on Wednesday, September 6th. Finally, Loop Capital reiterated a “buy” rating and issued a $260.00 target price (up from $250.00) on shares of FedEx in a report on Wednesday, September 20th. One 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 presently has an average rating of “Buy” and an average price target of $244.25.
FedEx (NYSE:FDX) traded up $7.66 during trading on Wednesday, hitting $250.20. The stock had a trading volume of 806,176 shares, compared to its average volume of 1,482,946. FedEx has a one year low of $182.89 and a one year high of $243.75. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. The firm has a market capitalization of $64,867.61, a P/E ratio of 20.31, a P/E/G ratio of 1.52 and a beta of 1.36.
In other FedEx news, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares in the company, valued at approximately $12,059,712.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kim Jabal sold 3,980 shares of the stock in a transaction that occurred 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 in the company, valued at $1,371,344. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock worth $9,024,637 over the last 90 days. Company insiders own 8.45% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Strategic Advisors LLC lifted its holdings in shares of FedEx by 16.7% in 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 position in shares of FedEx in the 2nd quarter worth $435,000. Stevens Capital Management LP lifted its holdings in shares of FedEx by 60.6% in 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. lifted its holdings in shares of FedEx by 2.7% in 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 lifted its holdings in shares of FedEx by 1.3% in 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. Hedge funds and other institutional investors own 75.60% of the company’s stock.
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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.
