Equities research analysts at Goldman Sachs Group started coverage on shares of FedEx (NYSE:FDX) in a report released on Monday, November 13th, Marketbeat reports. The brokerage set a “buy” rating and a $270.00 price target on the shipping service provider’s stock. Goldman Sachs Group’s price objective would suggest a potential upside of 8.20% from the company’s previous close.
A number of other equities research analysts have also recently commented on the company. Vetr cut FedEx to a “sell” rating and set a $204.84 target price on the stock. in a research note on Thursday, August 31st. JPMorgan Chase & Co. lifted their target price on FedEx from $237.00 to $264.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating and set a $233.00 target price (down from $242.00) on shares of FedEx in a research note on Friday, September 15th. Robert W. Baird reiterated a “buy” rating and set a $235.00 target price on shares of FedEx in a research note on Tuesday, September 12th. Finally, Cowen reiterated a “buy” rating and set a $240.00 target price on shares of FedEx in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the stock. FedEx currently has a consensus rating of “Buy” and a consensus target price of $259.58.
Shares of FedEx (NYSE:FDX) traded up $1.22 during trading hours on Monday, reaching $249.54. The company’s stock had a trading volume of 1,158,170 shares, compared to its average volume of 1,799,052. The company has a market cap of $66,849.27, a PE ratio of 23.00, a PEG ratio of 1.51 and a beta of 1.36. FedEx has a fifty-two week low of $182.89 and a fifty-two week high of $255.11. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89.
In related news, Director Kim Jabal sold 3,980 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value of $897,689.00. Following the sale, the director now directly owns 6,080 shares in the company, valued at approximately $1,371,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Carter sold 3,970 shares of FedEx stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value of $995,398.10. Following the transaction, the executive vice president now directly owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. Insiders sold a total of 19,100 shares of company stock worth $4,440,416 over the last 90 days. 8.45% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Krilogy Financial LLC grew its holdings in shares of FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares in the last quarter. Cribstone Capital Management LLC grew its holdings in shares of FedEx by 1.2% during the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after purchasing an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America grew its holdings in shares of FedEx by 1.0% during the first quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after purchasing an additional 9 shares in the last quarter. Park National Corp OH grew its holdings in shares of FedEx by 0.9% during the second quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock worth $256,000 after purchasing an additional 10 shares in the last quarter. Finally, Alexandria Capital LLC grew its holdings in shares of FedEx by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after purchasing an additional 13 shares in the last quarter. 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.
