FedEx (NYSE:FDX) had its price objective increased by equities research analysts at Oppenheimer from $265.00 to $274.00 in a research report issued on Friday. The brokerage currently has an “outperform” rating on the shipping service provider’s stock. Oppenheimer’s target price would indicate a potential upside of 8.72% from the company’s current price.
Several other research firms also recently commented on FDX. Citigroup increased their target price on FedEx to $275.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Credit Suisse Group reiterated a “positive” rating and issued a $283.00 target price (up from $278.00) on shares of FedEx in a research report on Wednesday, December 20th. Stephens set a $306.00 target price on FedEx and gave the company a “buy” rating in a research report on Wednesday, December 20th. Robert W. Baird reiterated a “buy” rating and issued a $270.00 target price on shares of FedEx in a research report on Monday, February 12th. Finally, Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. FedEx has a consensus rating of “Buy” and a consensus target price of $275.86.
FedEx (FDX) opened at $252.03 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50. The company has a market capitalization of $66,275.88, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32. FedEx has a 1 year low of $182.89 and a 1 year high of $274.66.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating the consensus estimate of $2.89 by $0.29. The firm had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $2.80 earnings per share. equities research analysts anticipate that FedEx will post 13.45 EPS for the current fiscal year.
In related news, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total transaction of $995,398.10. Following the completion of the sale, the executive vice president now owns 187,025 shares of the company’s stock, valued at $46,892,778.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the sale, the director now directly owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The disclosure for this sale can be found here. Insiders have sold 53,541 shares of company stock valued at $13,692,142 in the last ninety days. 8.45% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its stake in FedEx by 7.3% during the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after purchasing an additional 266,660 shares during the period. Jennison Associates LLC grew its stake in FedEx by 47.4% in the fourth quarter. Jennison Associates LLC now owns 3,687,689 shares of the shipping service provider’s stock valued at $920,226,000 after acquiring an additional 1,185,447 shares during the period. Canada Pension Plan Investment Board grew its stake in FedEx by 3.3% in the third quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock valued at $814,875,000 after acquiring an additional 116,500 shares during the period. TIAA CREF Investment Management LLC grew its stake in FedEx by 5.6% in the fourth quarter. TIAA CREF Investment Management LLC now owns 2,395,924 shares of the shipping service provider’s stock valued at $597,879,000 after acquiring an additional 126,993 shares during the period. Finally, Geode Capital Management LLC grew its stake in FedEx by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 2,392,806 shares of the shipping service provider’s stock valued at $595,716,000 after acquiring an additional 73,830 shares during the period. 74.65% of the stock is owned by institutional investors and hedge funds.
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FedEx Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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