UBS Group Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its target price dropped by research analysts at UBS Group from $350.00 to $331.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the shipping service provider’s stock. UBS Group’s price objective points to a potential upside of 47.22% from the stock’s current price.

A number of other brokerages have also commented on FDX. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Stephens cut their price target on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday. Piper Sandler downgraded FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, Bank of America reduced their price target on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $303.92.

FedEx Trading Down 8.7 %

Shares of FDX traded down $21.37 during trading hours on Friday, reaching $224.84. The stock had a trading volume of 4,249,540 shares, compared to its average volume of 1,701,039. The firm has a 50-day moving average of $260.76 and a 200 day moving average of $273.11. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market cap of $54.15 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx has a 52 week low of $217.49 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the firm earned $3.86 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In related news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after purchasing an additional 56,236 shares in the last quarter. Dodge & Cox increased its stake in shares of FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of FedEx by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after buying an additional 109,006 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of FedEx by 8.1% during the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after buying an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock valued at $906,165,000 after buying an additional 127,044 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

About FedEx

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.