FedEx (NYSE:FDX) Given New $320.00 Price Target at Robert W. Baird

FedEx (NYSE:FDX) had its price target decreased by stock analysts at Robert W. Baird from $340.00 to $320.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the shipping service provider’s stock. Robert W. Baird’s target price suggests a potential upside of 6.53% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company raised their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Bank of America lowered their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Evercore ISI decreased their target price on FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. Finally, TD Cowen assumed coverage on shares of FedEx in a research note on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $313.13.

FedEx Trading Up 0.7 %

FedEx stock opened at $300.39 on Friday. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84. The stock has a market capitalization of $73.92 billion, a P/E ratio of 17.43, a PEG ratio of 1.03 and a beta of 1.17. The stock has a 50-day simple moving average of $293.32 and a 200 day simple moving average of $274.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the firm posted $4.55 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. Analysts expect that FedEx will post 20.82 earnings per share for the current year.

Insider Transactions at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David P. Steiner sold 1,369 shares of FedEx stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total transaction of $407,564.99. Following the completion of the transaction, the director now owns 35,183 shares of the company’s stock, valued at approximately $10,474,330.93. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 in the last quarter. Insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several institutional investors have recently made changes to their positions in FDX. Vanguard Group Inc. raised its stake in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Capital International Investors lifted its holdings in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares in the last quarter. Putnam Investments LLC boosted its position in shares of FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares during the period. Mawer Investment Management Ltd. grew its stake in FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after acquiring an additional 684,679 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.