FedEx Corporation (NYSE:FDX) has been assigned a consensus recommendation of “Buy” from the twenty-nine analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $229.36.
A number of equities research analysts have recently commented on FDX shares. Wells Fargo & Company increased their target price on FedEx Corporation from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Credit Suisse Group reaffirmed an “outperform” rating and set a $233.00 price objective (down from $242.00) on shares of FedEx Corporation in a research report on Friday, September 15th. Bank of America Corporation reaffirmed a “buy” rating and set a $247.00 price objective (up from $240.00) on shares of FedEx Corporation in a research report on Friday, October 6th. Cowen and Company reaffirmed a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $229.00 price objective on shares of FedEx Corporation in a research report on Wednesday, September 20th.
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In related news, CEO Michael L. Ducker sold 14,964 shares of FedEx Corporation stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the sale, the chief executive officer now owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of FedEx Corporation stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock worth $9,024,637 in the last three months. 8.45% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Compton Capital Management Inc. RI grew its holdings in FedEx Corporation by 1.5% during the 1st quarter. Compton Capital Management Inc. RI now owns 6,880 shares of the shipping service provider’s stock valued at $1,343,000 after buying an additional 105 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in FedEx Corporation by 3.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 12,368 shares of the shipping service provider’s stock valued at $2,414,000 after buying an additional 363 shares in the last quarter. Family Legacy Inc. purchased a new position in FedEx Corporation during the 1st quarter valued at approximately $246,000. Keybank National Association OH grew its holdings in FedEx Corporation by 1.3% during the 1st quarter. Keybank National Association OH now owns 42,902 shares of the shipping service provider’s stock valued at $8,372,000 after buying an additional 533 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its holdings in FedEx Corporation by 76.5% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 49,564 shares of the shipping service provider’s stock valued at $9,672,000 after buying an additional 21,489 shares in the last quarter. 76.16% of the stock is currently owned by institutional investors.
Shares of FedEx Corporation (NYSE:FDX) traded down $1.22 during trading hours on Wednesday, reaching $224.24. The company had a trading volume of 802,641 shares, compared to its average volume of 1,190,000. FedEx Corporation has a 12 month low of $172.85 and a 12 month high of $231.35. The firm has a market cap of $60.13 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.42 and a beta of 1.37. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.
FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The company had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same period in the prior year, the company posted $2.90 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. equities analysts predict that FedEx Corporation will post 12.48 earnings per share for the current fiscal year.
FedEx Corporation Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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