Stifel Nicolaus Trims FedEx (NYSE:FDX) Target Price to $303.00

FedEx (NYSE:FDXGet Free Report) had its price target reduced by equities researchers at Stifel Nicolaus from $306.00 to $303.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ target price indicates a potential upside of 10.05% from the company’s current price.

FDX has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their target price on FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 20th. TD Cowen boosted their target price on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Morgan Stanley boosted their target price on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. The Goldman Sachs Group boosted their price objective on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $301.33.

View Our Latest Analysis on FDX

FedEx Stock Down 1.7 %

FDX stock opened at $275.33 on Wednesday. FedEx has a twelve month low of $213.80 and a twelve month high of $291.27. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The firm has a market cap of $67.75 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The business has a 50 day moving average of $252.00 and a 200 day moving average of $253.00.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.41 earnings per share. On average, research analysts forecast that FedEx will post 17.6 EPS for the current fiscal year.

FedEx declared that its Board of Directors has authorized a stock buyback program on Thursday, March 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at FedEx

In related news, EVP Mark R. Allen sold 10,145 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the completion of the sale, the executive vice president now directly owns 36,853 shares in the company, valued at $10,587,129.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Mark R. Allen sold 10,145 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the completion of the transaction, the executive vice president now directly owns 36,853 shares in the company, valued at approximately $10,587,129.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Insiders sold a total of 19,393 shares of company stock valued at $5,581,475 in the last three months. 8.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FDX. Fortis Group Advisors LLC raised its holdings in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in FedEx during the fourth quarter valued at about $25,000. Financial Management Professionals Inc. lifted its stake in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of FedEx during the fourth quarter worth about $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of FedEx in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

(Get Free Report)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

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