Stifel Nicolaus Cuts FedEx (NYSE:FDX) Price Target to $321.00

FedEx (NYSE:FDX) had its price objective reduced by research analysts at Stifel Nicolaus from $327.00 to $321.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 25.39% from the company’s previous close.

FDX has been the topic of a number of other reports. Bank of America decreased their target price on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday. Bernstein Bank boosted their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Friday. Finally, The Goldman Sachs Group lowered their target price on FedEx from $333.00 to $332.00 in a report on Friday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $313.24.

FedEx Stock Performance

NYSE FDX traded down $44.38 on Friday, hitting $256.01. 6,226,254 shares of the company’s stock were exchanged, compared to its average volume of 1,794,393. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The firm has a market cap of $63.00 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.03 and a beta of 1.17. The firm’s 50-day moving average price is $293.32 and its two-hundred day moving average price is $274.80.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $21.87 billion. During the same period last year, the company earned $4.55 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts expect that FedEx will post 20.82 EPS for the current year.

Insider Transactions at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 in the last three months. 8.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of FDX. Newbridge Financial Services Group Inc. grew its position in FedEx by 93.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 5,741 shares of the shipping service provider’s stock valued at $1,721,000 after acquiring an additional 2,777 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in FedEx during the 2nd quarter valued at $10,018,000. Clearbridge Investments LLC grew its holdings in FedEx by 63.9% during the 2nd quarter. Clearbridge Investments LLC now owns 7,917 shares of the shipping service provider’s stock valued at $2,374,000 after purchasing an additional 3,087 shares in the last quarter. New Century Financial Group LLC increased its stake in FedEx by 148.7% during the 2nd quarter. New Century Financial Group LLC now owns 5,293 shares of the shipping service provider’s stock worth $1,587,000 after buying an additional 3,165 shares during the period. Finally, Ariadne Wealth Management LP acquired a new position in FedEx in the 2nd quarter worth $103,000. 84.47% of the stock is owned by institutional investors and hedge funds.

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.