FedEx (NYSE:FDX) Given New $354.00 Price Target at Stifel Nicolaus

FedEx (NYSE:FDX) had its price objective cut by Stifel Nicolaus from $364.00 to $354.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 43.90% from the stock’s current price.

A number of other brokerages have also weighed in on FDX. TD Cowen boosted their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Bank of America boosted their price target on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $310.48.

FedEx Price Performance

FDX stock opened at $246.00 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a 50 day moving average price of $260.76 and a 200-day moving average price of $273.11. FedEx has a 52-week low of $224.52 and a 52-week high of $313.84. The firm has a market capitalization of $59.25 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm 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 business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $3.86 earnings per share. Equities research analysts forecast that FedEx will post 19.14 EPS for the current fiscal year.

Insider Buying and Selling at FedEx

In related news, Director Amy B. Lane acquired 333 shares of the stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction dated 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 acquisition, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after acquiring an additional 56,236 shares during the last quarter. Dodge & Cox grew its holdings in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Geode Capital Management LLC increased its stake in FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after buying an additional 109,006 shares during the period. Franklin Resources Inc. boosted its position in FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after buying an additional 323,115 shares during the period. Finally, Invesco Ltd. grew its stake in FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock worth $906,165,000 after acquiring an additional 127,044 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.