FedEx (NYSE:FDX) PT Raised to $340.00

FedEx (NYSE:FDX) had its price objective boosted by research analysts at Robert W. Baird from $325.00 to $340.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the shipping service provider’s stock. Robert W. Baird’s price target indicates a potential upside of 15.07% from the company’s current price.

Several other research analysts have also commented on the company. Jefferies Financial Group raised their price objective on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. The Goldman Sachs Group boosted their price target on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company raised shares of FedEx to a “hold” rating in a research report on Tuesday, June 18th. Stifel Nicolaus decreased their target price on shares of FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Finally, Bank of America lifted their price target on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $314.00.

FedEx Stock Performance

NYSE FDX opened at $295.47 on Wednesday. The business’s 50-day simple moving average is $256.80 and its 200-day simple moving average is $256.00. The firm has a market capitalization of $72.71 billion, a P/E ratio of 17.15, a P/E/G ratio of 0.93 and a beta of 1.16. FedEx has a 1-year low of $224.69 and a 1-year high of $296.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26.

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, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.86%. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the previous year, the firm earned $4.94 earnings per share. FedEx’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts predict that FedEx will post 20.26 EPS for the current year.

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

Insiders Place Their Bets

In other news, 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 transaction of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the sale, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders have sold 117,275 shares of company stock valued at $32,177,298 over the last quarter. Insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Several large investors have recently added to or reduced their stakes in the business. Lazari Capital Management Inc. bought a new position in shares of FedEx in the first quarter worth $202,000. Keynote Financial Services LLC bought a new position in FedEx in the 1st quarter valued at about $288,000. EverSource Wealth Advisors LLC increased its stake in FedEx by 0.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 12,496 shares of the shipping service provider’s stock valued at $3,621,000 after buying an additional 45 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of FedEx by 45.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 148,573 shares of the shipping service provider’s stock worth $42,610,000 after buying an additional 46,244 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of FedEx in the 1st quarter worth approximately $89,000. 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.