FedEx (NYSE:FDX) Price Target Cut to $308.00

FedEx (NYSE:FDXGet Rating) had its price objective decreased by equities researchers at UBS Group from $312.00 to $308.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has a “buy” rating on the shipping service provider’s stock. UBS Group’s price target indicates a potential upside of 51.82% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Bank of America increased their price objective on shares of FedEx from $276.00 to $287.00 in a research report on Thursday, June 30th. KeyCorp increased their price objective on shares of FedEx from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Thursday, June 30th. JPMorgan Chase & Co. set a $284.00 price objective on shares of FedEx in a research report on Thursday, June 30th. Barclays set a $320.00 price objective on shares of FedEx in a research report on Friday, June 24th. Finally, BMO Capital Markets reduced their target price on shares of FedEx from $280.00 to $270.00 and set a “market perform” rating on the stock in a research report on Thursday, August 25th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $293.65.

FedEx Stock Up 0.6 %

Shares of NYSE FDX opened at $202.87 on Wednesday. The firm’s 50-day moving average price is $224.49 and its 200-day moving average price is $218.77. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $52.73 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.73 and a beta of 1.21. FedEx has a 12-month low of $192.82 and a 12-month high of $266.79.

FedEx (NYSE:FDXGet Rating) last announced its earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.91 by ($0.04). The business had revenue of $24.39 billion for the quarter, compared to analysts’ expectations of $24.28 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. During the same quarter in the prior year, the company posted $5.01 earnings per share. On average, equities research analysts anticipate that FedEx will post 23.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other FedEx news, EVP Brie Carere sold 11,235 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $228.85, for a total value of $2,571,129.75. Following the completion of the transaction, the executive vice president now owns 16,366 shares of the company’s stock, valued at $3,745,359.10. The transaction was disclosed in a filing with the SEC, which is available at this link. In other FedEx news, Director Vincenzo J. Vena bought 900 shares of FedEx stock in a transaction that occurred on Wednesday, July 6th. The stock was purchased at an average price of $230.04 per share, with a total value of $207,036.00. Following the completion of the acquisition, the director now directly owns 1,325 shares in the company, valued at approximately $304,803. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brie Carere sold 11,235 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $228.85, for a total transaction of $2,571,129.75. Following the transaction, the executive vice president now directly owns 16,366 shares of the company’s stock, valued at approximately $3,745,359.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,810 shares of company stock valued at $11,199,898. Insiders own 8.62% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Physicians Financial Services Inc. grew its position in FedEx by 0.6% during the 2nd quarter. Physicians Financial Services Inc. now owns 7,133 shares of the shipping service provider’s stock worth $1,617,000 after purchasing an additional 43 shares during the last quarter. Transcend Capital Advisors LLC grew its position in FedEx by 1.9% during the 2nd quarter. Transcend Capital Advisors LLC now owns 2,445 shares of the shipping service provider’s stock worth $554,000 after purchasing an additional 45 shares during the last quarter. Pacifica Partners Inc. grew its position in FedEx by 1.1% during the 2nd quarter. Pacifica Partners Inc. now owns 4,263 shares of the shipping service provider’s stock worth $1,040,000 after purchasing an additional 45 shares during the last quarter. Probity Advisors Inc. grew its position in FedEx by 2.1% during the 2nd quarter. Probity Advisors Inc. now owns 2,282 shares of the shipping service provider’s stock worth $517,000 after purchasing an additional 47 shares during the last quarter. Finally, Meridian Management Co. grew its position in FedEx by 3.8% during the 4th quarter. Meridian Management Co. now owns 1,382 shares of the shipping service provider’s stock worth $357,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

FedEx Company Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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