Wells Fargo & Company Has Lowered Expectations for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price objective decreased by stock analysts at Wells Fargo & Company from $275.00 to $260.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 12.92% from the company’s previous close.

A number of other research firms have also weighed in on FDX. Stifel Nicolaus reduced their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday. Stephens reduced their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. TD Cowen dropped their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Citigroup dropped their target price on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.67.

FedEx Stock Down 6.5 %

Shares of NYSE FDX opened at $230.25 on Friday. The firm’s 50-day moving average price is $259.95 and its 200-day moving average price is $272.49. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $55.46 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx has a 12-month low of $217.22 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.86 earnings per share. On average, equities research analysts anticipate that FedEx will post 19.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. United Bank acquired a new stake in shares of FedEx in the third quarter valued at about $615,000. Quest Partners LLC acquired a new stake in shares of FedEx in the third quarter valued at about $123,000. Pathstone Holdings LLC grew its position in shares of FedEx by 2.1% in the third quarter. Pathstone Holdings LLC now owns 28,592 shares of the shipping service provider’s stock valued at $7,827,000 after purchasing an additional 586 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of FedEx in the third quarter valued at about $2,611,000. Finally, PNC Financial Services Group Inc. grew its position in shares of FedEx by 0.3% in the third quarter. PNC Financial Services Group Inc. now owns 76,897 shares of the shipping service provider’s stock valued at $21,045,000 after purchasing an additional 259 shares during the period. Hedge funds and other 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.