FedEx (NYSE:FDX) Price Target Lowered to $317.00 at Citigroup

FedEx (NYSE:FDX) had its price objective reduced by equities researchers at Citigroup from $347.00 to $317.00 in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the shipping service provider’s stock. Citigroup’s target price would suggest a potential upside of 29.15% from the stock’s current price.

Several other research firms have also issued reports on FDX. Truist Financial initiated coverage on FedEx in a research note on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Raymond James downgraded shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. BMO Capital Markets raised their price target on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company reduced their price objective on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $317.48.

FedEx Trading Up 1.3 %

NYSE FDX opened at $245.46 on Tuesday. FedEx has a 12 month low of $239.50 and a 12 month high of $313.84. The stock has a market capitalization of $59.12 billion, a P/E ratio of 15.64, a PEG ratio of 1.11 and a beta of 1.23. The firm’s 50-day moving average is $262.47 and its two-hundred day moving average is $273.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $3.99 EPS. On average, sell-side analysts anticipate that FedEx will post 19.14 earnings per share for the current year.

Insider Buying and Selling at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

Hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its holdings in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Transce3nd LLC acquired a new stake in FedEx in the fourth quarter valued at $26,000. Peoples Financial Services CORP. purchased a new stake in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. acquired a new position in shares of FedEx during the 4th quarter worth $28,000. Finally, Kentucky Trust Co purchased a new position in shares of FedEx in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

About FedEx

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.