Citigroup Initiates Coverage on FedEx (NYSE:FDX)

Research analysts at Citigroup started coverage on shares of FedEx (NYSE:FDX) in a research report issued to clients and investors on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $301.00 price target on the shipping service provider’s stock. Citigroup’s price objective would indicate a potential upside of 15.20% from the stock’s current price.

FDX has been the topic of a number of other reports. Robert W. Baird reduced their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. BMO Capital Markets decreased their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Trading Up 0.3 %

FDX stock opened at $261.28 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a market cap of $64.30 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.04 and a beta of 1.17. The business has a fifty day simple moving average of $283.06 and a 200-day simple moving average of $275.86. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly 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). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.55 earnings per share. On average, equities research analysts expect that FedEx will post 19.66 EPS for the current year.

Insider Transactions at FedEx

In related news, Director Marvin R. Ellison sold 2,535 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $299.34, for a total transaction of $758,826.90. Following the transaction, the director now directly owns 6,955 shares in the company, valued at $2,081,909.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Marvin R. Ellison sold 2,535 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $299.34, for a total transaction of $758,826.90. Following the sale, the director now owns 6,955 shares in the company, valued at $2,081,909.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,914 shares of company stock worth $3,978,338. 8.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Fortis Group Advisors LLC boosted its holdings in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new position in FedEx during the 4th quarter valued at $25,000. Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management raised its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares in the last quarter. Finally, Sachetta LLC lifted its holdings in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. Institutional investors 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.