FedEx (NYSE:FDX) had its target price reduced by stock analysts at Credit Suisse Group from $241.00 to $184.00 in a research report issued on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the shipping service provider’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 14.02% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. Daiwa Capital Markets downgraded FedEx from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $187.00 to $179.00 in a report on Thursday, March 21st. They noted that the move was a valuation call. Morgan Stanley set a $148.00 target price on FedEx and gave the stock a “hold” rating in a report on Friday, May 17th. ValuEngine downgraded FedEx from a “sell” rating to a “strong sell” rating in a report on Monday, June 3rd. Susquehanna Bancshares reissued a “neutral” rating and issued a $174.00 target price on shares of FedEx in a report on Thursday, March 28th. Finally, BMO Capital Markets dropped their target price on FedEx to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $203.86.
NYSE FDX opened at $161.37 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.40 and a current ratio of 1.46. FedEx has a twelve month low of $150.68 and a twelve month high of $266.03. The company has a market cap of $41.18 billion, a P/E ratio of 10.54, a PEG ratio of 0.76 and a beta of 1.69.
In other news, CEO Frederick W. Smith sold 155,650 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the transaction, the chief executive officer now owns 14,945,124 shares in the company, valued at $2,837,032,888.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total value of $525,330.00. The disclosure for this sale can be found here. Insiders sold 185,650 shares of company stock valued at $34,751,470 in the last 90 days. Company insiders own 8.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of FDX. Oregon Public Employees Retirement Fund raised its stake in shares of FedEx by 15,104.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock worth $87,000 after purchasing an additional 13,970,642 shares during the last quarter. Norges Bank purchased a new stake in FedEx during the fourth quarter valued at $303,958,000. Artisan Partners Limited Partnership increased its position in FedEx by 40.7% during the first quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock valued at $497,162,000 after acquiring an additional 792,575 shares during the last quarter. Nordea Investment Management AB increased its position in FedEx by 63.5% during the first quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock valued at $280,985,000 after acquiring an additional 601,465 shares during the last quarter. Finally, LSV Asset Management increased its position in FedEx by 39.7% during the first quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock valued at $360,441,000 after acquiring an additional 564,452 shares during the last quarter. Hedge funds and other institutional investors own 69.45% of the company’s stock.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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