Citigroup Initiates Coverage on FedEx (NYSE:FDX)

Equities researchers at Citigroup started coverage on shares of FedEx (NYSE:FDX) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $301.00 price target on the shipping service provider’s stock. Citigroup’s price target would indicate a potential upside of 13.90% from the stock’s current price.

A number of other research analysts have also commented on FDX. Robert W. Baird decreased their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Susquehanna decreased their price target on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Loop Capital decreased their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Stifel Nicolaus decreased their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Raymond James decreased their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Down 0.1 %

FedEx stock opened at $264.27 on Wednesday. The firm has a market capitalization of $65.03 billion, a PE ratio of 15.34, a P/E/G ratio of 1.04 and a beta of 1.17. The company’s 50-day moving average is $282.30 and its 200-day moving average is $275.78. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.55 earnings per share. Sell-side analysts anticipate that FedEx will post 19.66 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. First Financial Bankshares Inc acquired a new stake in shares of FedEx during the fourth quarter worth $315,000. Empirical Capital Management LLC acquired a new stake in shares of FedEx during the fourth quarter worth $7,589,000. Bridgefront Capital LLC acquired a new stake in shares of FedEx during the fourth quarter worth $437,000. Brevan Howard Capital Management LP increased its position in shares of FedEx by 238.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 5,068 shares of the shipping service provider’s stock worth $1,282,000 after buying an additional 3,570 shares during the period. Finally, HAP Trading LLC acquired a new stake in shares of FedEx during the fourth quarter worth $3,488,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.