Stephens Reiterates $306.00 Price Target for FedEx (FDX)
FedEx (NYSE:FDX) has been given a $306.00 price objective by analysts at Stephens in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Stephens’ price objective suggests a potential upside of 23.16% from the stock’s previous close.
A number of other research analysts have also recently weighed in on the company. Vetr cut FedEx to a “sell” rating and set a $204.84 target price on the stock. in a report on Thursday, August 31st. J P Morgan Chase & Co boosted their price objective on FedEx from $237.00 to $264.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Goldman Sachs Group initiated coverage on FedEx in a research note on Monday, November 13th. They set a “buy” rating and a $270.00 price objective on the stock. Credit Suisse Group restated an “outperform” rating and set a $233.00 price objective (down previously from $242.00) on shares of FedEx in a research note on Friday, September 15th. Finally, Robert W. Baird restated a “buy” rating and set a $235.00 price objective on shares of FedEx in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $246.65.
Shares of FedEx (FDX) traded up $5.92 during trading on Wednesday, reaching $248.46. The company had a trading volume of 1,596,010 shares, compared to its average volume of 1,482,946. FedEx has a 52-week low of $182.89 and a 52-week high of $243.75. The firm has a market capitalization of $64,867.61, a PE ratio of 20.31, a P/E/G ratio of 1.52 and a beta of 1.36. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.
In related news, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at $6,709,780. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kim Jabal sold 3,980 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the sale, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,094 shares of company stock worth $9,024,637. Insiders own 8.45% of the company’s stock.
A number of institutional investors have recently made changes to their positions in FDX. Investment Centers of America Inc. increased its holdings in FedEx by 22.0% in the first quarter. Investment Centers of America Inc. now owns 3,215 shares of the shipping service provider’s stock valued at $629,000 after buying an additional 579 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of FedEx by 7.1% during the first quarter. AQR Capital Management LLC now owns 326,414 shares of the shipping service provider’s stock valued at $63,700,000 after purchasing an additional 21,641 shares during the last quarter. Sterneck Capital Management LLC bought a new position in shares of FedEx during the first quarter valued at approximately $210,000. National Asset Management Inc. grew its holdings in shares of FedEx by 16.0% during the first quarter. National Asset Management Inc. now owns 1,652 shares of the shipping service provider’s stock valued at $323,000 after purchasing an additional 228 shares during the last quarter. Finally, Paloma Partners Management Co grew its holdings in shares of FedEx by 1,102.7% during the first quarter. Paloma Partners Management Co now owns 39,654 shares of the shipping service provider’s stock valued at $7,738,000 after purchasing an additional 36,357 shares during the last quarter. 75.60% of the stock is owned by hedge funds and other institutional investors.
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FedEx 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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