FedEx (NYSE:FDX) had its price objective increased by investment analysts at Wells Fargo & Company from $221.00 to $286.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 20.84% from the stock’s current price.
A number of other equities research analysts have also issued reports on FDX. Goldman Sachs Group raised their price target on shares of FedEx from $233.00 to $297.00 and gave the stock a “conviction-buy” rating in a report on Wednesday. Morgan Stanley raised their price target on shares of FedEx from $110.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday. Berenberg Bank set a $280.00 price target on shares of FedEx and gave the stock a “buy” rating in a report on Thursday, September 3rd. Stephens raised their price target on shares of FedEx from $215.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Finally, BMO Capital Markets raised their price target on shares of FedEx from $130.00 to $150.00 and gave the stock a “market perform” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. FedEx has a consensus rating of “Buy” and a consensus target price of $237.27.
FDX stock opened at $236.67 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.53 and a current ratio of 1.58. FedEx has a 52 week low of $88.69 and a 52 week high of $241.00. The firm’s fifty day moving average is $204.74 and its 200 day moving average is $148.86. The firm has a market cap of $62.01 billion, a P/E ratio of 48.40, a P/E/G ratio of 1.84 and a beta of 1.48.
In other news, EVP Brie Carere sold 1,307 shares of FedEx stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $202.60, for a total value of $264,798.20. Following the completion of the sale, the executive vice president now directly owns 11,481 shares in the company, valued at $2,326,050.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David P. Steiner sold 1,951 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $205.00, for a total transaction of $399,955.00. Following the sale, the director now owns 31,610 shares of the company’s stock, valued at $6,480,050. The disclosure for this sale can be found here. Insiders sold 44,058 shares of company stock valued at $7,149,678 over the last quarter. Company insiders own 8.49% of the company’s stock.
A number of large investors have recently modified their holdings of FDX. NewSquare Capital LLC lifted its holdings in FedEx by 215.4% during the first quarter. NewSquare Capital LLC now owns 205 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Selective Wealth Management Inc. purchased a new position in FedEx during the second quarter valued at approximately $28,000. Hoover Financial Advisors Inc. purchased a new position in FedEx during the second quarter valued at approximately $28,000. Balentine LLC purchased a new position in FedEx during the first quarter valued at approximately $29,000. Finally, Private Capital Group LLC lifted its holdings in FedEx by 59.6% during the first quarter. Private Capital Group LLC now owns 257 shares of the shipping service provider’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. 71.65% of the stock is currently owned by institutional investors and hedge funds.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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