StockNews.com Upgrades FedEx (NYSE:FDX) to Buy

FedEx (NYSE:FDX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities analysts also recently weighed in on the stock. Bernstein Bank upped their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. TD Cowen cut their price target on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Susquehanna reduced their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Stock Up 0.5 %

Shares of FedEx stock opened at $267.55 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84. The stock has a 50-day moving average price of $288.06 and a 200 day moving average price of $275.67. The company has a market cap of $65.84 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last posted 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 company 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 for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.55 earnings per share. As a group, analysts expect that FedEx will post 19.66 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated 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 transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director David P. Steiner sold 1,369 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total transaction of $407,564.99. Following the transaction, the director now directly owns 35,183 shares of the company’s stock, valued at approximately $10,474,330.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s 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 sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,399 shares of company stock valued at $4,420,615. 8.73% of the stock is owned by insiders.

Hedge Funds Weigh In On FedEx

Several large investors have recently modified their holdings of the stock. Capital International Investors boosted its holdings in shares of FedEx by 32.5% during the 1st 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 during the period. Sentry LLC acquired a new stake in FedEx during the fourth quarter worth approximately $307,007,000. Vanguard Group Inc. boosted its holdings in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Putnam Investments LLC boosted its holdings in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after acquiring an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. grew its position in shares of FedEx by 43.5% in 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 purchasing an additional 684,679 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

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.