FedEx (NYSE:FDX – Get Free Report) was upgraded by Stephens to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.
FDX has been the subject of several other reports. Barclays decreased their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Argus raised their target price on shares of FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Morgan Stanley upped their target price on FedEx from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, March 20th. Wolfe Research cut their price target on FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Finally, Wells Fargo & Company reduced their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $349.60.
View Our Latest Stock Analysis on FDX
FedEx Trading Down 0.9%
FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.91 by $0.40. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $25.01 billion for the quarter, compared to analysts’ expectations of $24.04 billion. During the same period last year, the business posted $6.07 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.
Insiders Place Their Bets
In related news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This represents a 51.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 53,146 shares of company stock worth $19,235,438. 0.53% of the stock is owned by company insiders.
Hedge Funds Weigh In On FedEx
Several hedge funds have recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. boosted its stake in FedEx by 3.2% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after buying an additional 26 shares in the last quarter. OneAscent Financial Services LLC boosted its position in shares of FedEx by 1.7% during the 4th quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock valued at $491,000 after purchasing an additional 29 shares in the last quarter. Whipplewood Advisors LLC grew its position in FedEx by 9.9% in the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after buying an additional 30 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of FedEx by 11.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock worth $101,000 after acquiring an additional 30 shares during the last quarter. Finally, Arete Wealth Advisors LLC increased its stake in FedEx by 1.7% in the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 30 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.
About FedEx
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
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