FedEx (NYSE:FDX) PT Raised to $335.00

FedEx (NYSE:FDX) had its price target raised by TD Cowen from $320.00 to $335.00 in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. TD Cowen’s target price indicates a potential upside of 13.38% from the company’s current price.

Several other analysts have also issued reports on the company. Wells Fargo & Company raised FedEx to a “hold” rating in a research note on Tuesday, June 18th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Raymond James dropped their price objective on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday. Evercore ISI decreased their target price on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday. Finally, Stifel Nicolaus decreased their target price on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

FedEx Stock Down 0.2 %

Shares of NYSE FDX opened at $295.47 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company has a market cap of $72.71 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 0.93 and a beta of 1.16. FedEx has a 12 month low of $224.69 and a 12 month high of $296.86. The stock has a 50-day moving average price of $256.80 and a two-hundred day moving average price of $256.00.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.86% and a net margin of 4.94%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.94 earnings per share. As a group, analysts forecast that FedEx will post 20.26 earnings per share for the current fiscal year.

FedEx announced that its Board of Directors has approved a share repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 1,325 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $278.24, for a total value of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other FedEx news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the transaction, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders have sold 117,275 shares of company stock worth $32,177,298 over the last quarter. 8.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently made changes to their positions in the company. Lazari Capital Management Inc. acquired a new position in shares of FedEx during the first quarter valued at approximately $202,000. Keynote Financial Services LLC acquired a new position in shares of FedEx during the first quarter valued at approximately $288,000. EverSource Wealth Advisors LLC raised its holdings in shares of FedEx by 0.4% during the first quarter. EverSource Wealth Advisors LLC now owns 12,496 shares of the shipping service provider’s stock valued at $3,621,000 after acquiring an additional 45 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of FedEx by 45.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 148,573 shares of the shipping service provider’s stock valued at $42,610,000 after acquiring an additional 46,244 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of FedEx in the first quarter valued at approximately $89,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Company Profile

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.