FedEx (NYSE:FDX) Price Target Lowered to $215.00 at The Goldman Sachs Group

FedEx (NYSE:FDXGet Rating) had its price objective lowered by analysts at The Goldman Sachs Group from $250.00 to $215.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 42.98% from the company’s current price.

Several other brokerages have also recently weighed in on FDX. Berenberg Bank set a $200.00 price target on FedEx in a research note on Tuesday. Stephens cut their price objective on shares of FedEx from $295.00 to $200.00 in a research report on Friday. Barclays dropped their price objective on shares of FedEx from $320.00 to $240.00 and set an “overweight” rating on the stock in a research note on Monday. BMO Capital Markets lowered their price target on FedEx from $215.00 to $190.00 in a research report on Friday. Finally, Stifel Nicolaus downgraded FedEx from a “buy” rating to a “hold” rating and decreased their price target for the company from $288.00 to $195.00 in a research report on Friday, September 16th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $224.70.

FedEx Stock Down 2.7 %

Shares of NYSE:FDX traded down $4.17 during midday trading on Friday, hitting $150.37. The stock had a trading volume of 103,689 shares, compared to its average volume of 4,134,571. FedEx has a 12 month low of $150.34 and a 12 month high of $266.79. The company has a market cap of $39.08 billion, a P/E ratio of 10.52, a PEG ratio of 0.73 and a beta of 1.21. The business’s 50-day simple moving average is $216.15 and its 200-day simple moving average is $216.44. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81.

FedEx (NYSE:FDXGet Rating) last issued its quarterly earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). FedEx had a return on equity of 22.29% and a net margin of 4.09%. The company had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.78 billion. During the same period in the prior year, the company earned $4.37 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that FedEx will post 16.55 earnings per share for the current fiscal year.

Insider Buying and Selling at FedEx

In other news, Director Vincenzo J. Vena acquired 900 shares of FedEx stock in a transaction dated Wednesday, July 6th. The shares were purchased at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the transaction, the director now owns 1,325 shares of the company’s stock, valued at $304,803. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Robert B. Carter sold 12,310 shares of the company’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $230.61, for a total value of $2,838,809.10. Following the completion of the sale, the executive vice president now owns 54,916 shares of the company’s stock, valued at approximately $12,664,178.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vincenzo J. Vena bought 900 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The stock was acquired at an average price of $230.04 per share, for a total transaction of $207,036.00. Following the transaction, the director now owns 1,325 shares in the company, valued at $304,803. The disclosure for this purchase can be found here. Insiders have sold 48,810 shares of company stock worth $11,199,898 over the last 90 days. Corporate insiders own 8.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FDX. Vanguard Group Inc. boosted its holdings in FedEx by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 18,784,798 shares of the shipping service provider’s stock valued at $4,346,614,000 after acquiring an additional 394,289 shares during the period. Dodge & Cox boosted its stake in shares of FedEx by 0.6% during the second quarter. Dodge & Cox now owns 17,426,647 shares of the shipping service provider’s stock valued at $3,950,795,000 after purchasing an additional 98,022 shares during the period. Primecap Management Co. CA grew its holdings in shares of FedEx by 1.5% in the second quarter. Primecap Management Co. CA now owns 13,433,592 shares of the shipping service provider’s stock worth $3,045,530,000 after purchasing an additional 196,115 shares during the last quarter. FMR LLC increased its stake in shares of FedEx by 15.6% in the second quarter. FMR LLC now owns 4,100,112 shares of the shipping service provider’s stock worth $929,536,000 after buying an additional 554,395 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in FedEx by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,404,754 shares of the shipping service provider’s stock valued at $556,512,000 after buying an additional 78,183 shares during the last quarter. 71.62% of the stock is owned by institutional investors.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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