FedEx Corporation (NYSE:FDX)‘s stock had its “buy” rating restated by stock analysts at Cowen and Company in a report released on Tuesday. They presently have a $240.00 price target on the shipping service provider’s stock. Cowen and Company’s price target suggests a potential upside of 12.99% from the company’s current price.
Several other equities analysts have also commented on the company. BMO Capital Markets reissued a “buy” rating and issued a $245.00 target price on shares of FedEx Corporation in a report on Wednesday, September 6th. Vetr lowered FedEx Corporation to a “sell” rating and set a $204.84 target price on the stock. in a report on Thursday, August 31st. Zacks Investment Research lowered FedEx Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a report on Wednesday, August 16th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $237.00 target price on shares of FedEx Corporation in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $221.72.
FedEx Corporation (NYSE FDX) traded up 1.48% during mid-day trading on Tuesday, hitting $215.54. The stock had a trading volume of 1,575,261 shares. FedEx Corporation has a 52-week low of $158.20 and a 52-week high of $219.99. The stock has a market cap of $57.82 billion, a P/E ratio of 19.47 and a beta of 1.28. The firm has a 50-day moving average of $209.32 and a 200-day moving average of $201.38.
FedEx Corporation (NYSE:FDX) last posted its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating the consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. FedEx Corporation’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.30 earnings per share. On average, analysts forecast that FedEx Corporation will post $13.53 EPS for the current fiscal year.
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In other FedEx Corporation news, Director Kim Jabal sold 609 shares of the stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $216.13, for a total value of $131,623.17. Following the completion of the transaction, the director now directly owns 2,100 shares of the company’s stock, valued at $453,873. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John A. Edwardson sold 2,208 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the transaction, the director now directly owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.45% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Perigon Wealth Management LLC increased its holdings in FedEx Corporation by 6.7% in the second quarter. Perigon Wealth Management LLC now owns 18,118 shares of the shipping service provider’s stock valued at $3,947,000 after buying an additional 1,135 shares in the last quarter. Intl Fcstone Inc. purchased a new position in FedEx Corporation in the second quarter valued at about $320,000. M Holdings Securities Inc. purchased a new position in FedEx Corporation in the second quarter valued at about $226,000. RNC Capital Management LLC increased its holdings in FedEx Corporation by 0.8% in the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock valued at $434,000 after buying an additional 15 shares in the last quarter. Finally, WFG Advisors LP increased its holdings in FedEx Corporation by 8.5% in the second quarter. WFG Advisors LP now owns 5,712 shares of the shipping service provider’s stock valued at $1,241,000 after buying an additional 446 shares in the last quarter. 75.86% of the stock is owned by institutional investors.
FedEx Corporation 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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